Global Medical REIT reports Q4 adjusted FFO 22c, consensus 22c

Reports Q4 revenue $35.0M. The company said, “During the year we maintained our disciplined acquisition approach for quality healthcare real estate by closing on a 15-property, single-tenant triple-net portfolio for $80.3 million at a cap rate of 8.0% and entered into a purchase agreement to acquire a five-property, $69.6 million portfolio at a cap rate of 9.0%. Also, during the fourth quarter, we entered into a joint venture with Heitman, a real estate investment firm with over $48 billion of assets under management, and sold two of our assets into the joint venture generating $35.2 million of gross proceeds. We believe the joint venture will provide additional opportunities to acquire assets and earn ancillary fee income with a strong capital partner. In summary, we believe our 2024 acquisitions and new joint venture are indicative of our ability to identify and execute on growth opportunities. As always, I’m proud of our team’s hard work and contribution to our results.”