Global Medical REIT Inc. (NYSE: GMRE) has reported its financial results for the quarter and six months ending June 30, 2025. The company's net loss attributable to common stockholders for the second quarter was $0.8 million, or $0.01 per diluted share, a significant improvement from the $3.1 million loss, or $0.05 per diluted share, in the same period last year.
Funds from Operations (FFO) attributable to common stockholders and noncontrolling interest increased to $14.3 million, or $0.20 per share and unit, compared to $13.9 million, or $0.20 per share and unit, in the comparable prior year period. Adjusted Funds from Operations (AFFO) also saw an uptick to $16.6 million, or $0.23 per share and unit, as compared to $15.7 million, or $0.22 per share and unit, in the same period last year.
The company completed the acquisition of a five-property medical real estate portfolio for $69.6 million, which added 486,598 leasable square feet with an aggregate annualized base rent of $6.3 million. Additionally, the company completed three dispositions resulting in an aggregate gain of $1.6 million.
Rental revenue for the second quarter of 2025 increased 10.7% year-over-year to $37.9 million, primarily due to the impact of acquisitions completed subsequent to June 30, 2024. However, total expenses for the quarter were $37.5 million, compared to $32.8 million for the comparable prior year period, reflecting increased general and administrative costs associated with the company’s CEO succession plan, as well as higher costs related to recent acquisitions.
As of June 30, 2025, the company's portfolio was 94.5% occupied and comprised 5.2 million leasable square feet with an annualized base rent of $117.5 million. The weighted average lease term for the portfolio was 5.6 years with weighted average annual rent escalations of 2.1%.
The company's 2025 guidance reaffirms its full-year AFFO per share and unit guidance of $0.89 to $0.93, based on specific assumptions and factors, including no additional acquisitions or dispositions other than those already completed or announced, and no additional equity or debt issuances other than normal course revolver borrowing/repayments.
The company's borrowing capacity under the credit facility was $177 million as of August 4, 2025. Additionally, the board declared a $0.15 per share cash dividend to common stockholders and unitholders, and a $0.46875 per share cash dividend to holders of the company’s series A preferred stock.
For further details on the financial results, interested parties can refer to the company’s supplemental financial package available on the investor relations section of the company’s website. Following these announcements, the company's shares moved 0.9%, and are now trading at a price of $6.75. Check out the company's full 8-K submission here.
