Global Medical REIT Inc. reported a net loss of $5.1 million for the third quarter of 2025, a significant decline from the net income of $3.4 million recorded in the same period last year. This loss translates to a net loss per share of $0.45, compared to earnings of $0.14 per share in the prior year. For the nine months ending September 30, 2025, the company also experienced a net loss of $736,000, down from a profit of $3.8 million in the same timeframe in 2024. Total revenue for the third quarter increased to $37.2 million, up from $34.3 million a year earlier, driven primarily by rental income from recent acquisitions.
The company's financial performance reflects a notable increase in rental revenue, which rose to $37 million for the quarter, compared to $34.2 million in the previous year. However, total expenses also increased, reaching $36.3 million, up from $32.7 million in the third quarter of 2024. The rise in expenses was attributed to higher general and administrative costs, operating expenses, and interest expenses, which totaled $8.2 million for the quarter, reflecting increased borrowings and interest rates. The weighted average interest rate on the company's debt rose to 4.06% as of September 30, 2025, compared to 3.75% at the end of 2024.
Strategically, Global Medical REIT has been active in expanding its portfolio, completing five acquisitions and five dispositions during the nine months ended September 30, 2025. The company acquired a five-property portfolio for $69.6 million, which added approximately 486,598 square feet of leasable space. However, it also recognized a $6.3 million impairment loss related to the sale of a facility in Aurora, Illinois. The company’s total investment in real estate reached approximately $1.5 billion, with 191 buildings and 5.2 million square feet of leasable space.
In terms of operational metrics, the company reported a total of 315 tenants across its properties, with no single tenant contributing more than 10% of total rental revenue. The company’s cash and cash equivalents increased to $9.8 million as of September 30, 2025, up from $8.9 million at the end of 2024, primarily due to net borrowings under its credit facility. The company has also implemented a $50 million stock repurchase program, although no shares have been repurchased to date.
Looking ahead, Global Medical REIT anticipates challenges from elevated interest rates and inflation, which could impact its cost of capital and overall financial performance. The company has entered into new interest rate swaps to hedge against rising rates, but the effects of these financial strategies will be closely monitored as market conditions evolve. The management remains focused on maintaining liquidity and capital resources to support future growth and operational stability.
About Global Medical REIT Inc.
Global Medical REIT Inc. is a Maryland-based REIT that acquires and leases healthcare facilities, primarily medical office buildings and specialized clinics, to physician groups and healthcare systems. Its portfolio focuses on outpatient and decentralized healthcare properties in the U.S., emphasizing demographic-driven demand and industry trends. The company operates through a partnership structure, seeks attractive returns, and benefits from healthcare delivery shifts, with a focus on sustainability and strong governance.
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