Global Medical REIT reports Q2 FFO 20c, one estimate 22c

Reports Q2 revenue $34.2M, consensus $34.4M. Jeffrey M. Busch, Chairman, Chief Executive Officer and President stated, “During the second quarter, we continued to produce consistent results due to the quality of our portfolio and the reliability of our tenant base. On the acquisition front, during the quarter, we announced our executed purchase agreement for a 15-property portfolio of outpatient medical real estate for an aggregate purchase price of $80.3 million, and I’m pleased that in July we closed on the first tranche of this portfolio purchase, acquiring five properties for an aggregate purchase price of $30.8 million. We expect to complete the acquisition of the 10 remaining properties during the fourth quarter of 2024. Additionally, we continue to actively monitor the transaction market and remain disciplined in executing our acquisition strategy. With ample liquidity, we are well positioned to continue to pursue acquisitions that fit our portfolio quality and return criteria. I want to thank the entire team for their hard work and contributions to our results.”