2019 Q1 Form 10-K Financial Statement

#000114420419013170 Filed on March 11, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q3
Revenue $15.20M $14.38M $14.00M
YoY Change 31.44% 45.59% 66.92%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $2.940M $2.510M $2.500M
YoY Change 40.67% 17.84% 39.66%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.867M $4.650M $3.614M
YoY Change 33.07% 40.91% 66.08%
% of Gross Profit
Operating Expenses $13.16M $12.55M $12.23M
YoY Change 36.16% 45.47% 57.14%
Operating Profit
YoY Change
Interest Expense $4.025M -$4.290M $4.055M
YoY Change 49.96% 97.7% 86.52%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $2.040M $9.500M $1.770M
YoY Change 7.37% 660.0% 190.16%
Income Tax
% Of Pretax Income
Net Earnings $2.043M $9.504M $1.773M
YoY Change 7.47% 660.93% 192.57%
Net Earnings / Revenue 13.44% 66.11% 12.66%
Basic Earnings Per Share
Diluted Earnings Per Share $72.32K $372.0K $79.82K
COMMON SHARES
Basic Shares Outstanding 26.30M 22.03M shares 21.63M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.800M $3.600M $3.000M
YoY Change -47.06% -29.41% -55.88%
Cash & Equivalents $1.844M $3.631M $3.005M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $5.400M $6.500M $4.700M
YoY Change 14.89% 12.07% -36.49%
LONG-TERM ASSETS
Property, Plant & Equipment $599.7M $616.9M $586.2M
YoY Change 15.35% 34.72% 42.25%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $3.009M $322.0K $1.109M
YoY Change 470.97% -29.85% 592.2%
Total Long-Term Assets $651.3M $629.6M $599.4M
YoY Change 21.7% 35.1% 42.19%
TOTAL ASSETS
Total Short-Term Assets $5.400M $6.500M $4.700M
Total Long-Term Assets $651.3M $629.6M $599.4M
Total Assets $656.7M $636.1M $604.1M
YoY Change 21.64% 34.82% 40.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.400M
YoY Change
Accrued Expenses $2.400M $3.700M $4.400M
YoY Change -41.46% 85.0% 83.33%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $20.00M $15.90M $15.50M
YoY Change 25.79% 47.22% 51.96%
LONG-TERM LIABILITIES
Long-Term Debt $258.6M $315.0M $331.9M
YoY Change -3.4% 56.95% 101.64%
Other Long-Term Liabilities $7.500M $5.500M $2.000M
YoY Change 400.0% 323.08% 81.82%
Total Long-Term Liabilities $266.1M $320.5M $333.9M
YoY Change -1.15% 58.66% 101.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $20.00M $15.90M $15.50M
Total Long-Term Liabilities $266.1M $320.5M $333.9M
Total Liabilities $286.1M $336.3M $349.4M
YoY Change 0.36% 58.05% 98.65%
SHAREHOLDERS EQUITY
Retained Earnings -$51.39M -$45.01M -$46.86M
YoY Change 30.71%
Common Stock $35.00K $26.00K $22.00K
YoY Change 59.09% 18.18% 1.71%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $340.2M $269.3M $237.0M
YoY Change
Total Liabilities & Shareholders Equity $656.7M $636.1M $604.1M
YoY Change 21.64% 34.82% 40.84%

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q3
OPERATING ACTIVITIES
Net Income $2.043M $9.504M $1.773M
YoY Change 7.47% 660.93% 192.57%
Depreciation, Depletion And Amortization $3.867M $4.650M $3.614M
YoY Change 33.07% 40.91% 66.08%
Cash From Operating Activities $6.148M $5.730M $4.180M
YoY Change -33.86% 37.08% 35.71%
INVESTING ACTIVITIES
Capital Expenditures -$22.32M -$47.50M -$10.26M
YoY Change -66.44% 22.8% -84.23%
Acquisitions
YoY Change
Other Investing Activities -$330.0K $32.32M -$610.0K
YoY Change -232.0% -7126.09% 60.53%
Cash From Investing Activities -$22.66M -$15.19M -$10.86M
YoY Change -65.8% -61.19% -83.41%
FINANCING ACTIVITIES
Cash Dividend Paid $1.455M
YoY Change 0.0%
Common Stock Issuance & Retirement, Net $75.92M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 14.97M 10.47M 4.320M
YoY Change -73.84% -68.53% -92.4%
NET CHANGE
Cash From Operating Activities 6.148M 5.730M 4.180M
Cash From Investing Activities -22.66M -15.19M -10.86M
Cash From Financing Activities 14.97M 10.47M 4.320M
Net Change In Cash -1.535M 1.010M -2.360M
YoY Change -634.84% -159.76% -57.25%
FREE CASH FLOW
Cash From Operating Activities $6.148M $5.730M $4.180M
Capital Expenditures -$22.32M -$47.50M -$10.26M
Free Cash Flow $28.47M $53.23M $14.44M
YoY Change -62.44% 24.2% -78.81%

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21000
CY2016 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
138000
CY2016 us-gaap Interest Paid Net
InterestPaidNet
4099000
CY2016 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
3604000
CY2018 us-gaap Stock Issued1
StockIssued1
0
CY2017 us-gaap Stock Issued1
StockIssued1
0
CY2016 us-gaap Stock Issued1
StockIssued1
30030000
CY2016 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
0
CY2018 gmre Tenant Improvements Expenditure Paid And Transferred To Real Estate
TenantImprovementsExpenditurePaidAndTransferredToRealEstate
2535000
CY2017 gmre Tenant Improvements Expenditure Paid And Transferred To Real Estate
TenantImprovementsExpenditurePaidAndTransferredToRealEstate
0
CY2016 gmre Tenant Improvements Expenditure Paid And Transferred To Real Estate
TenantImprovementsExpenditurePaidAndTransferredToRealEstate
0
CY2016 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
2036000
CY2016 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
0
CY2016 gmre Payments Of Dividens Common Stock Op And Ltip Units
PaymentsOfDividensCommonStockOpAndLtipUnits
-3878000
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
163504000
CY2018 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-2271000
CY2017 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-13498000
CY2016 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
10980000
CY2015Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
9632000
CY2016 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
137288000
CY2018 gmre Loans Repaid To Related Party
LoansRepaidToRelatedParty
0
CY2017 gmre Loans Repaid To Related Party
LoansRepaidToRelatedParty
-9000
CY2016 gmre Loans Repaid To Related Party
LoansRepaidToRelatedParty
-395000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
109000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
109000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
109000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
109000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
113000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
2121000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
2670000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Current
OperatingLeasesFutureMinimumPaymentsReceivableCurrent
50527000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
51450000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
49926000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Four Years
OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
48862000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Five Years
OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
47743000
CY2018 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2017 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
107000000
CY2016 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
0
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable Thereafter
OperatingLeasesFutureMinimumPaymentsReceivableThereafter
330180000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
578688000
CY2018 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0
CY2017 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
421000
CY2016 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1950000
CY2018 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
70725000
CY2017 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
0
CY2016 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
41321000
CY2018 gmre Payments On Notes Payable From Acquisitions
PaymentsOnNotesPayableFromAcquisitions
22000
CY2017 gmre Payments On Notes Payable From Acquisitions
PaymentsOnNotesPayableFromAcquisitions
0
CY2016 gmre Payments On Notes Payable From Acquisitions
PaymentsOnNotesPayableFromAcquisitions
25634000
CY2018 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
CY2017 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0
CY2016 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
1950000
CY2018 us-gaap Repayments Of Debt
RepaymentsOfDebt
0
CY2017 us-gaap Repayments Of Debt
RepaymentsOfDebt
0
CY2016 us-gaap Repayments Of Debt
RepaymentsOfDebt
10000000
CY2018 us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">&#160;</div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; background: none;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and footnotes. Actual results could differ from those estimates.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
-57000
CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Reclassification</div></div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; background: none;"><div style="white-space: pre-line; font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">&#160;</div></div><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; background: none;"><div style="font-family: &quot;times new roman&quot;, serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">The Company reclassified the line item &#8220;Deferred financing costs, net&#8221; on its Consolidated Balance Sheet as of December&#160;31, 2017 to present this amount as a reduction of the Company&#8217;s &#8220;Revolving Credit Facility&#8221; liability balance. The deferred financing cost, net balance consists of costs incurred related to securing and amending the Company&#8217;s revolving credit facility (net of accumulated amortization). The reclassification was made to conform to the Company&#8217;s presentation of this line item in the Company&#8217;s Consolidated Balance Sheet as of December 31, 2018, which treats all unamortized deferred financing costs as a reduction of the related debt balance.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3631000
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5109000
CY2018 gmre Performance Goals For Awards
PerformanceGoalsForAwards
As of December 31, 2018, management estimated that the Performance Goals would be met at a 75% level, and accordingly, applied 75% to the net target 2018 Program Annual Awards to estimate the 2018 Program Annual Awards expected to be earned at the end of the performance period.
CY2018 gmre Sharebased Compensation Arrangement By Sharebased Payment Award Employee Subscription Rate After Performance Period
SharebasedCompensationArrangementBySharebasedPaymentAwardEmployeeSubscriptionRateAfterPerformancePeriod
The number of LTIP Units earned under the Long-Term Awards will be determined as soon as reasonably practicable following the end of the three-year performance period (2020 or 2021 depending on the program) based on the Company&#8217;s TSR on an absolute basis (as to 75% of the Long-Term Award) and relative to the SNL Healthcare REIT Index (as to 25% of the Long-Term Award).
CY2018 us-gaap Stock Redeemed Or Called During Period Value
StockRedeemedOrCalledDuringPeriodValue
263000
CY2017 us-gaap Management Fee Expense
ManagementFeeExpense
3123000
CY2017 us-gaap Payments Of Distributions To Affiliates
PaymentsOfDistributionsToAffiliates
9000
CY2018 us-gaap Management Fee Expense
ManagementFeeExpense
4422000
CY2018 us-gaap Related Party Transaction Expenses From Transactions With Related Party
RelatedPartyTransactionExpensesFromTransactionsWithRelatedParty
4343000
CY2018 us-gaap Property Management Fee Percent Fee
PropertyManagementFeePercentFee
0.015
CY2018 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
22000
CY2018 us-gaap Property Plant And Equipment Disposals
PropertyPlantAndEquipmentDisposals
24637000
CY2017 us-gaap Payment For Management Fee
PaymentForManagementFee
2680000
CY2017 us-gaap Payments Of Dividends Preferred Stock And Preference Stock
PaymentsOfDividendsPreferredStockAndPreferenceStock
745000
CY2018Q4 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
174000
CY2017 gmre Line Of Credit Cash Paid Other
LineOfCreditCashPaidOther
2915000
CY2017Q2 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
1987000
CY2018 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
30030000
CY2016Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
15000000
CY2016Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
138969000
CY2016Q3 gmre Reclassification Of Common Stock Offering Cost To Additional Paid In Capital Non Cash Or Partial Non Cash Transaction
ReclassificationOfCommonStockOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction
1681000
CY2017 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
38140000
CY2016 us-gaap Business Acquisitions Pro Forma Revenue
BusinessAcquisitionsProFormaRevenue
28559000
CY2017 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
1828000
CY2016 us-gaap Business Acquisitions Pro Forma Net Income Loss
BusinessAcquisitionsProFormaNetIncomeLoss
-1191000
CY2017 gmre Business Acquisition Pro Forma Net Income Loss Attributable To Common Stockholders
BusinessAcquisitionProFormaNetIncomeLossAttributableToCommonStockholders
41000
CY2016 gmre Business Acquisition Pro Forma Net Income Loss Attributable To Common Stockholders
BusinessAcquisitionProFormaNetIncomeLossAttributableToCommonStockholders
-1191000
CY2017 gmre Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
0
CY2017 gmre Business Acquistion Proforma Weighted Average Number Of Shares Outstanding
BusinessAcquistionProformaWeightedAverageNumberOfSharesOutstanding
19617000
CY2016 gmre Business Acquistion Proforma Weighted Average Number Of Shares Outstanding
BusinessAcquistionProformaWeightedAverageNumberOfSharesOutstanding
9302000
CY2018Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6864000
CY2018Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
36288000
CY2018Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
308000
CY2018Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
2028000
CY2017Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
31650000
CY2016 gmre Business Acquisition Pro Forma Earnings Per Share Basic And Diluted
BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted
-0.13
CY2017Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
2341000
CY2017Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
29309000
CY2017Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
1389000
CY2017Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
98000
CY2017Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
1291000
CY2016Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
206877000
CY2017 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
264630000
CY2017Q4 us-gaap Notes Payable Related Parties Current And Noncurrent
NotesPayableRelatedPartiesCurrentAndNoncurrent
421000
CY2018 gmre Beneficial Ownership Description
BeneficialOwnershipDescription
The Company&#8217;s charter provides that, subject to certain exceptions, no person may beneficially or constructively own more than 9.8%, in value or in number of shares, whichever is more restrictive, of the outstanding shares of any class or series of the Company&#8217;s capital stock. On June&#160;27, 2016, the Board approved a waiver of the 9.8% ownership limit in the Company&#8217;s charter allowing ZH USA, LLC to own up to 16.9% of the Company&#8217;s outstanding shares of common stock.
CY2018 gmre Additional Interest Expense
AdditionalInterestExpense
667000
CY2018 us-gaap Business Combination Consideration Transferred Equity Interests Issued And Issuable
BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable
946000
CY2018 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
180837000
CY2018Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P2Y6M
CY2018Q4 us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
the Company leased the facilities to Prospect ECHN, Inc. One lease has an initial term of 15 years with two consecutive 10-year extension option, and the other lease has an initial term of 12 years with two consecutive 10-year extension options.
CY2018 gmre Number Of Acquistion
NumberOfAcquistion
1
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Less Noncontrolling Interest
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedLessNoncontrollingInterest
11300000
CY2017 us-gaap Below Market Lease Acquired
BelowMarketLeaseAcquired
1110000
CY2017 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
252220000
CY2017Q4 gmre Tenant Improvement Allowances Receivable
TenantImprovementAllowancesReceivable
10000000
CY2017Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P5Y
CY2017Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P5Y
CY2018 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
31629000
CY2017 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
0
CY2016 us-gaap Proceeds From Sale Of Property Held For Sale
ProceedsFromSaleOfPropertyHeldForSale
0
CY2016 gmre Reclassification Of Common Stock Offering Cost To Additional Paid In Capital Non Cash Or Partial Non Cash Transaction
ReclassificationOfCommonStockOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction
1681000
CY2018Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
77625000
CY2017Q4 us-gaap Preferred Stock Liquidation Preference Value
PreferredStockLiquidationPreferenceValue
77625000
CY2018 gmre Other Comprehensive Income Loss Change In Fair Value Of Interest Rate Swap
OtherComprehensiveIncomeLossChangeInFairValueOfInterestRateSwap
-3721000
CY2016 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1685000
CY2017 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1796000
CY2018 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2671000
CY2017 us-gaap Dividends Common Stock
DividendsCommonStock
15695000
CY2018 us-gaap Dividends Common Stock
DividendsCommonStock
18241000
CY2018 us-gaap Dividends Preferred Stock
DividendsPreferredStock
5822000
CY2017 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
11532000
CY2018 us-gaap Noncontrolling Interest Increase From Subsidiary Equity Issuance
NoncontrollingInterestIncreaseFromSubsidiaryEquityIssuance
16363000
CY2018Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
22000
CY2017Q4 us-gaap Debt Instrument Annual Principal Payment
DebtInstrumentAnnualPrincipalPayment
0
CY2018 us-gaap Payments Of Dividends
PaymentsOfDividends
5821000
CY2017 us-gaap Payments Of Dividends
PaymentsOfDividends
745000
CY2016 us-gaap Payments Of Dividends
PaymentsOfDividends
0
CY2018 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
6886000
CY2017 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-87000
CY2016 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-6353000
CY2018Q1 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
1901000
CY2018Q2 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
1384000
CY2018Q3 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
1773000
CY2018Q4 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
1829000
CY2016Q1 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-1318000
CY2017Q2 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
-623000
CY2017Q3 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
606000
CY2017Q4 us-gaap Income Loss Before Gain Or Loss On Sale Of Properties Extraordinary Items And Cumulative Effects Of Accounting Changes
IncomeLossBeforeGainOrLossOnSaleOfPropertiesExtraordinaryItemsAndCumulativeEffectsOfAccountingChanges
1249000
CY2018Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
1899000
CY2017Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
1246000
CY2018 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
3145000
CY2017 us-gaap Partners Capital Account Units Sale Of Units
PartnersCapitalAccountUnitsSaleOfUnits
1246000
CY2018Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
27894000
CY2017Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
11532000
CY2017Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
11900000
CY2017Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P16Y
CY2018 dei Entity Small Business
EntitySmallBusiness
false
CY2018 dei Document Type
DocumentType
10-K
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018Q4 us-gaap Lessor Operating Lease Renewal Term
LessorOperatingLeaseRenewalTerm
P2Y6M
CY2018Q4 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P7Y
CY2015Q4 us-gaap Convertible Debt
ConvertibleDebt
40030000
CY2016Q4 us-gaap Convertible Debt
ConvertibleDebt
0
CY2018 us-gaap Payments For Tenant Improvements
PaymentsForTenantImprovements
2535000
CY2018 gmre Reclassification Of Common Stock Offering Cost To Additional Paid In Capital Non Cash Or Partial Non Cash Transaction
ReclassificationOfCommonStockOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction
573000
CY2017 gmre Reclassification Of Common Stock Offering Cost To Additional Paid In Capital Non Cash Or Partial Non Cash Transaction
ReclassificationOfCommonStockOfferingCostToAdditionalPaidInCapitalNonCashOrPartialNonCashTransaction
443000
CY2016Q1 us-gaap Debt Instrument Description
DebtInstrumentDescription
Prepayment can only occur within four months prior to the maturity date, except that after the earlier of (a) two years after the loan is placed in a securitized mortgage pool, or (b) May 6, 2020, the Cantor Loan can be fully and partially defeased upon payment of amounts due under the Cantor Loan and payment of a defeasance amount that is sufficient to purchase U.S. government securities equal to the scheduled payments of principal, interest, fees, and any other amounts due related to a full or partial defeasance under the Cantor Loan.The Company secured the payment of the Cantor Loan with the assets, including property, facilities, and rents, held by the GMR Loan Subsidiaries and has agreed to guarantee certain customary recourse obligations, including findings of fraud, gross negligence, or breach of environmental covenants by the GMR Loan Subsidiaries. The GMR Loan Subsidiaries will be required to maintain a monthly debt service coverage ratio of 1.35:1.00 for all of the collateral properties in the aggregate.
CY2016Q1 us-gaap Debt Instrument Covenant Description
DebtInstrumentCovenantDescription
maintain a monthly debt service coverage ratio of 1.35:1.00 for all of the collateral properties in the aggregate.
CY2018 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-3721000
CY2018 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-85000
CY2017Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1036000
CY2016Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
581000
CY2018Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
1030000
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0001533615
CY2018Q4 us-gaap Long Term Debt Percentage Bearing Fixed Interest Rate
LongTermDebtPercentageBearingFixedInterestRate
0.12
CY2018 us-gaap Debt Instrument Maturity Date
DebtInstrumentMaturityDate
2019-10-31
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Registrant Name
EntityRegistrantName
Global Medical REIT Inc.
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2018Q2 dei Entity Public Float
EntityPublicFloat
168300000
CY2018 dei Trading Symbol
TradingSymbol
GMRE
CY2019Q1 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
26304740
CY2018 dei Entity Shell Company
EntityShellCompany
false
CY2018 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false

Files In Submission

Name View Source Status
0001144204-19-013170-index-headers.html Edgar Link pending
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0001144204-19-013170.txt Edgar Link pending
0001144204-19-013170-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
gmre-20181231.xml Edgar Link completed
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gmre-20181231_cal.xml Edgar Link unprocessable
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