Financial Performance - Net income for Q3 2024 was 11.9million,or0.21 per diluted share, compared to 15.0million,or0.26 per diluted share in Q3 2023[8]. - Adjusted funds from operations (AFFO) for Q3 2024 were 31.7million,or0.57 per diluted share, compared to 34.1million,or0.60 per diluted share in Q3 2023[13]. - Total revenue for the three months ended September 30, 2024, was 46,118,000,adecreaseof5.048,542,000 for the same period in 2023[33]. - Net income attributable to common stockholders for the three months ended September 30, 2024, was 11,935,000,down20.014,983,000 in the prior year[33]. - Funds From Operations (FFO) for the three months ended September 30, 2024, was 30,568,000,down7.533,055,000 in the prior year[35]. - Rental revenue for the three months ended September 30, 2024, was 46,118,000,adeclineof5.048,542,000 in the same period of 2023[42]. - Net operating income (NOI) for the three months ended September 30, 2024, was 40,295,000,down6.043,537,000 in the same period of 2023[42]. - Adjusted Funds From Operations (AFFO) for the three months ended September 30, 2024, was 31,714,000,adecreaseof7.034,128,000 in the same period of 2023[35]. - Same store cash NOI for the three months ended September 30, 2024, was 36,924,000,aslightdecreaseof0.637,142,000 in the same period of 2023[42]. - The company reported a comprehensive income attributable to common stockholders of 565,000forthethreemonthsendedSeptember30,2024,downfrom17,298,000 in the prior year[33]. Cash Flow and Liquidity - Cash net operating income (Cash NOI) for Q3 2024 was 40.8million,downfrom44.2 million in Q3 2023, primarily due to lost Cash NOI from dispositions[9]. - The company had a strong balance sheet with approximately 528.6millionintotalliquidityasofSeptember30,2024[18].−Cashandcashequivalentsdecreasedsignificantlyto28,606,000 from 202,019,000asofDecember31,2023[30].−ThedividendpayouttoAFFOratiowas70.77.4 million paid to stockholders[22]. Asset Management - Total assets as of September 30, 2024, amounted to 2,007,433,000,adecreasefrom2,099,579,000 as of December 31, 2023[30]. - Total liabilities increased slightly to 606,958,000asofSeptember30,2024,comparedto605,144,000 at the end of 2023[30]. - Rental expenses for the three months ended September 30, 2024, were 5,823,000,anincreaseof16.35,005,000 in the same period of 2023[33]. - The weighted average percentage of rentable square feet leased was 95.5%, reflecting a 2.0% decrease during Q3 2024[17]. - Weighted average number of common shares outstanding for the three months ended September 30, 2024, was 55,571,298, a decrease from 56,859,076 in the same period of 2023[33]. Strategic Initiatives - The company acquired a 28.4millioninpatientrehabilitationfacilityinFortSmith,Arkansas,duringthequarter[2].−ThecompanysoldtheFortMyersHealthcareFacilitiesforasalespriceof15.5 million, generating net proceeds of 14.7million[15].−Thecompanyplanstochangethefrequencyofcashdistributionstoquarterly,effectivein2025[22].−Thecompanyplanstocontinueitsacquisitionandgrowthstrategy,focusingonstrategicacquisitionsandpotentialstockrepurchases[25].−Thecompanyacceptedforpurchaseapproximately2.2millionsharesofcommonstockatapurchasepriceof22.60 per share, totaling approximately 50.0million[20].OtherIncome−Thecompanyreceived2,000,000 in severance fees from GenesisCare, which will be recognized in rental revenues over the remaining lease term[45]. - The nine months ended September 30, 2024, included 4,098,000inleaseterminationfeeincomereceived,comparedto5,650,000 in the same period of 2023[43]. - The company reported a net operating income (NOI) of 123,085,000fortheninemonthsendedSeptember30,2024,downfrom128,423,000 in the same period of 2023[42]. - The company had 126 same store properties for the quarters ended September 30, 2024, and 2023, allowing for consistent performance comparison[47].
