Global Medical REIT reports Q3 adjusted FFO 23c, consensus 23c

Reports Q3 revenue $35.51M, consensus $36M. Jeffrey M. Busch, Chairman, Chief Executive Officer and President stated, “During the third quarter, we continued to produce consistent results highlighting the high quality of our portfolio and the stability of our tenant base. During the quarter, we sold a medical office building for gross proceeds of $10.1 million, achieving a cap rate of 5.3%. Including this sale, year-to-date we have completed three dispositions generating gross proceeds of $80.5 million at a weighted average cap rate of 6.3%, resulting in an aggregate gain of $15.6 million, with the net proceeds used to reduce our variable rate debt. Looking ahead to the remainder of the year, we will continue to remain prudent as the transaction market evolves, and with our sufficient liquidity we are well-prepared to seize acquisition opportunities when spreads become attractive to support accretive growth.”