BETHESDA, Md. (AP) _ Global Medical REIT Inc. (GMRE) on Wednesday reported a key measure of profitability in its fourth quarter, after reporting a loss in the same period a year earlier.
The real estate investment trust, based in Bethesda, Maryland, said it had funds from operations of $3.4 million, or 15 cents per share, in the period.
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 a loss of $193,000, or 1 cent per share.
The real estate investment trust posted revenue of $9.9 million in the period.
For the year, the company reported funds from operations of $11 million, swinging to a profit in the period. Revenue was reported as $30.3 million.
The company's shares have decreased 17 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.80, a drop of 17 percent in the last 12 months.