Global Medical REIT Q2 net loss $3.1M; Steward risk; $30.8M acquisition closed

Chiron Real Estate Inc.

2024-Q2 EPS reported -$0.04 revenue$69,360,000

Net loss attributable to common stock of $3.1M ($0.05/diluted) vs income $11.8M ($0.18) Q2 2023; includes $3.4M loss on sale.
FFO $13.9M ($0.20/share) and AFFO $15.7M ($0.22/share) vs $14.7M ($0.21) and $15.9M ($0.23) YoY.
Entered agreement to acquire 15-property portfolio for $80.3M; closed first tranche (5 properties) for $30.8M in July; second tranche expected Q4 2024.
Tenant Steward Health Care (2.8% of ABR) filed Chapter 11; rent received for June–August, but no assurance of full recovery.
Portfolio occupancy 96.2%; leverage 43.8%; dividend unchanged at $0.21/share.

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