Global Medical REIT(US:GMRE)2025-02-27 22:12Financial Performance - Net income attributable to common stockholders for Q4 2024 was $1.4 million, or $0.02 per diluted share, compared to a net loss of $0.8 million, or $0.01 per diluted share in Q4 2023[5]. - Total revenue for Q4 2024 was $35,157, an increase of 6.3% compared to $32,962 in Q4 2023[47]. - Net income for the twelve months ended December 31, 2024, was $6,692, a decrease of 69.2% from $21,734 in 2023[49]. - The company reported a gain on the sale of investment properties of $5,765 in Q4 2024, compared to no gain in Q4 2023[49]. - Adjusted EBITDAre for Q4 2024 was $25,095, an increase of 4.1% compared to $24,110 in Q4 2023[51]. Funds from Operations - Funds from Operations (FFO) for Q4 2024 was $11.1 million, or $0.15 per share, down from $13.3 million, or $0.19 per share in the prior year[11]. - Funds from Operations (FFO) attributable to common stockholders for Q4 2024 was $11,051, down from $13,307 in Q4 2023, representing a decrease of 16.9%[49]. - Adjusted Funds from Operations (AFFO) for the full year 2024 was $15.8 million, or $0.22 per share, compared to $15.9 million, or $0.23 per share in 2023[7]. - The company provided 2025 AFFO guidance of $0.89 to $0.93 per share[23]. Acquisitions and Investments - The company completed the acquisition of a 15-property portfolio for $80.3 million, with an annualized base rent of $6.4 million[12]. - The company entered into a joint venture with Heitman, generating $35.2 million in gross proceeds from the sale of two assets[15]. Portfolio and Occupancy - The portfolio leased occupancy was 96.4% as of December 31, 2024, with an annualized base rent of $110 million[17]. - The annualized base rent methodology produces an annualized amount as of a point in time but does not account for future contractual rental rate increases, leasing activity, or lease expirations[38]. Debt and Equity - Total debt outstanding as of December 31, 2024, was $646.1 million, with a leverage ratio of 44.8%[19]. - The company’s total liabilities increased to $700,570,000 in 2024 from $661,886,000 in 2023[42]. - The company’s total equity decreased to $555,916,000 in 2024 from $605,814,000 in 2023[42]. - The company raised $12 million through the issuance of 1.2 million shares at an average price of $9.95 per share during 2024[20]. Cash and Dividends - A cash dividend of $0.21 per share was declared for Q1 2025, payable on April 9, 2025[21]. - Cash and cash equivalents increased to $6,815,000 in 2024 from $1,278,000 in 2023[42]. Other Financial Metrics - The company's accumulated deficit increased to $(293,736,000) in 2024 from $(238,984,000) in 2023[42]. - The weighted average shares outstanding for basic and diluted shares increased to 66,838 in Q4 2024 from 65,565 in Q4 2023[49]. - The company incurred transaction expenses of $155 in Q4 2024, compared to $44 in Q4 2023[49].