Global Medical REIT Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 27, 2024 at 04:32 pm EST
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Global Medical REIT Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 32.93 million compared to USD 36.29 million a year ago. Revenue was USD 32.96 million compared to USD 36.31 million a year ago. Net income was USD 0.615 million compared to USD 1.82 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.01 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to diluted earnings per share from continuing operations of USD 0.01 a year ago.
For the full year, sales was USD 140.93 million compared to USD 137.17 million a year ago. Revenue was USD 141.05 million compared to USD 137.28 million a year ago. Net income was USD 20.61 million compared to USD 19.14 million a year ago. Basic earnings per share from continuing operations was USD 0.23 compared to USD 0.2 a year ago. Diluted earnings per share from continuing operations was USD 0.23 compared to USD 0.2 a year ago.
Global Medical REIT Inc. is an internally managed real estate investment trust (REIT). The Company acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. The Company conducts its business through a wholly owned subsidiaries of its operating partnership, Global Medical REIT L.P. It owns 92.91% of the outstanding common operating partnership units (OP Units) of its operating partnership, with an aggregate of 7.09% of the Operating Partnership owned by holders of long-term incentive plan units (LTIP Units) and third-party limited partners who contributed properties or services to the operating partnership in exchange for OP Units. Its portfolio includes medical office buildings (MOBs), inpatient rehab. facility (IRF), surgical hospital and others. The Company's portfolio is located in various areas, including Texas, Florida, Ohio, Oklahoma, Pennsylvania, Arizona, and Illinois.
GLOBAL MEDICAL REIT INC. 
