Global Medical REIT(US:GMRE)2026-02-25 21:57Financial Performance - Reported a quarterly net loss of $7.4 million, or $0.55 per diluted share, compared to a net income of $1.4 million, or $0.10 per diluted share, in the prior year period[4] - Net loss attributable to common stockholders for Q4 2025 was $7.419 million, compared to a profit of $1.374 million in Q4 2024[47] - The company reported a net loss per share of $0.55 for Q4 2025, compared to earnings of $0.10 per share in Q4 2024[47] - Net loss for the three months ended December 31, 2025, was $6,147 thousand, compared to a net income of $2,939 thousand for the same period in 2024[49] Revenue and Income - Total revenue for the twelve months ended December 31, 2025, was $148.208 million, up from $138.780 million in 2024, reflecting a growth of 6.9%[47] - Rental revenue for Q4 2025 was $38.171 million, an increase of 6.3% from $34.953 million in Q4 2024[47] - Funds from operations (FFO) increased by 26% year-over-year to $0.97 per share, up from $0.77 per share in the comparable prior year period[4] - Core FFO rose by 6.4% year-over-year to $1.16 per share, compared to $1.09 per share in the prior year[4] - Funds from Operations (FFO) attributable to common stockholders for the three months ended December 31, 2025, increased to $14,008 thousand, up from $11,051 thousand in 2024, representing a growth of 26.5%[49] - Adjusted EBITDAre for the twelve months ended December 31, 2025, reached $102,171 thousand, an increase from $97,855 thousand in 2024, reflecting a growth of 4.3%[51] Operating Metrics - Same-property cash net operating income (NOI) growth was 5.4% year-over-year[4] - Net Operating Income (NOI) for the three months ended December 31, 2025, was $29,876 thousand, compared to $27,971 thousand in 2024, indicating a year-over-year increase of 6.8%[54] - Cash NOI for the three months ended December 31, 2025, was $29,765 thousand, up from $27,533 thousand in 2024, representing an increase of 8.1%[54] - Same-property cash NOI for the three months ended December 31, 2025, was $26,583 thousand, compared to $25,222 thousand in 2024, showing a year-over-year increase of 5.4%[54] Assets and Liabilities - Total assets as of December 31, 2025, were $1.242 billion, a slight decrease from $1.256 billion as of December 31, 2024[45] - Total liabilities increased to $712.400 million as of December 31, 2025, from $700.570 million in 2024[45] - Consolidated debt outstanding was $653.9 million with a leverage ratio of 44.4%, down from 47.3% as of September 30, 2025[8] Dividends and Guidance - The Company declared a monthly common stock cash dividend of $0.25 per share for April, May, and June 2026, maintaining an annualized dividend rate of $3.00 per share[17][18] - The Company has a full year 2026 Core FFO guidance range of $4.30 to $4.45 per share[24] - The company anticipates future cash flows associated with joint ventures and new tenants, with guidance for 2026 Core FFO not specified[41] Investments and Dispositions - In January 2026, the Company invested $7.1 million for a 49% interest in a joint venture for a 132-unit active adult residential community[21] - The Company completed the disposition of two facilities for gross proceeds of $11.3 million, resulting in an aggregate loss of $0.4 million[6] Expenses and Impairments - General and administrative expenses for the twelve months ended December 31, 2025, were $19.998 million, down from $21.123 million in 2024, indicating a reduction of 5.3%[47] - The company reported an impairment of investment properties totaling $13.014 million for the twelve months ended December 31, 2025[47] - Impairment of investment properties for the three months ended December 31, 2025, was $6,733 thousand, compared to $1,696 thousand in 2024, indicating a significant increase in impairment losses[51] Interest and Shares - Interest expense for the twelve months ended December 31, 2025, was $31,754 thousand, compared to $28,689 thousand in 2024, reflecting an increase of 7.2%[51] - Weighted average shares and units outstanding for the three months ended December 31, 2025, were 14,516 thousand, slightly up from 14,442 thousand in 2024[49]