BETHESDA, Md. (AP) _ Global Medical REIT Inc. (GMRE) on Thursday reported a key measure of profitability in its third quarter. The results topped Wall Street expectations.
The Bethesda, Maryland-based real estate investment trust said it had funds from operations of $3.6 million, or 17 cents per share, in the period.
The average estimate of three analysts surveyed by Zacks Investment Research was for funds from operations of 12 cents per share.
Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.
The company said it had net income of $381,000, or 2 cents per share.
The real estate investment trust, based in Bethesda, Maryland, posted revenue of $8.4 million in the period.
The company's shares have risen nearly 1 percent since the beginning of the year. The stock has increased 5 percent in the last 12 months.