$GMRE
Global Medical REIT Inc

2022 Q1 Form 10-Q Financial Statement

#000155837022007619 Filed on May 06, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q3 2021 Q1
Revenue $31.88M $29.98M $27.35M
YoY Change 16.55% 19.47% 26.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.197M $3.852M $4.380M
YoY Change -4.18% -76.81% 0.69%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $9.402M $8.639M $7.848M
YoY Change 19.8% 24.23% 34.48%
% of Gross Profit
Operating Expenses $27.59M $24.62M $24.03M
YoY Change 14.83% -29.02% 27.58%
Operating Profit
YoY Change
Interest Expense $4.801M $4.801M $5.037M
YoY Change -4.69% -1.3% 15.05%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.286M $5.368M $3.320M
YoY Change 29.1% -156.03% 17.73%
Income Tax
% Of Pretax Income
Net Earnings $4.286M $5.368M $3.323M
YoY Change 28.98% -156.03% 17.96%
Net Earnings / Revenue 13.45% 17.9% 12.15%
Basic Earnings Per Share $0.04 $0.06 $0.03
Diluted Earnings Per Share $0.04 $80.12K $0.03
COMMON SHARES
Basic Shares Outstanding 65.30M 64.20M 52.67M
Diluted Shares Outstanding 65.30M 64.20M 52.67M

Balance Sheet

Concept 2022 Q1 2021 Q3 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.854M $6.030M $5.300M
YoY Change -65.02% 187.14% -53.1%
Cash & Equivalents $1.854M $6.030M $5.304M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $8.782M $11.43M $11.10M
YoY Change -20.88% 28.44% -35.09%
LONG-TERM ASSETS
Property, Plant & Equipment $1.129B $1.097B $1.009B
YoY Change 11.83% 20.38% 18.73%
Goodwill $5.903M $5.903M $5.903M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.345M $8.297M $5.530M
YoY Change 14.74% 54.91% -78.31%
Total Long-Term Assets $1.277B $1.232B $1.125B
YoY Change 13.46% 21.17% 19.82%
TOTAL ASSETS
Total Short-Term Assets $8.782M $11.43M $11.10M
Total Long-Term Assets $1.277B $1.232B $1.125B
Total Assets $1.285B $1.243B $1.136B
YoY Change 13.13% 21.23% 18.84%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $9.272M $11.07M $7.200M
YoY Change 28.78% 33.31% 1.41%
Accrued Expenses $3.179M $3.284M $6.800M
YoY Change -53.25% 5.94% 183.33%
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 $32.89M $34.26M $32.80M
YoY Change 0.27% 18.95% 13.49%
LONG-TERM LIABILITIES
Long-Term Debt $586.0M $554.6M $485.0M
YoY Change 20.83% 6.78% 4.41%
Other Long-Term Liabilities $13.94M $24.22M $22.60M
YoY Change -38.33% -13.8% -5.44%
Total Long-Term Liabilities $600.0M $578.8M $507.6M
YoY Change 18.2% 5.72% 3.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $32.89M $34.26M $32.80M
Total Long-Term Liabilities $600.0M $578.8M $507.6M
Total Liabilities $632.9M $613.1M $540.5M
YoY Change 17.09% 6.37% -0.02%
SHAREHOLDERS EQUITY
Retained Earnings -$168.1M -$147.6M -$127.5M
YoY Change 31.86% 36.7%
Common Stock $65.00K $64.00K $61.00K
YoY Change 6.56% 33.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $638.0M $615.7M $581.9M
YoY Change
Total Liabilities & Shareholders Equity $1.285B $1.243B $1.136B
YoY Change 13.13% 21.23% 18.84%

Cashflow Statement

Concept 2022 Q1 2021 Q3 2021 Q1
OPERATING ACTIVITIES
Net Income $4.286M $5.368M $3.323M
YoY Change 28.98% -156.03% 17.96%
Depreciation, Depletion And Amortization $9.402M $8.639M $7.848M
YoY Change 19.8% 24.23% 34.48%
Cash From Operating Activities $16.44M $18.61M $15.29M
YoY Change 7.52% -439.56% 24.69%
INVESTING ACTIVITIES
Capital Expenditures -$26.31M -$50.53M -$43.75M
YoY Change -39.87% -23.34% -36.38%
Acquisitions
YoY Change
Other Investing Activities -$288.0K -$235.0K $170.0K
YoY Change -269.41% -187.04% 1600.0%
Cash From Investing Activities -$26.60M -$50.77M -$43.57M
YoY Change -38.96% -22.67% -36.63%
FINANCING ACTIVITIES
Cash Dividend Paid $1.455M $1.455M
YoY Change 0.0% -50.02%
Common Stock Issuance & Retirement, Net $8.210M $144.3M
YoY Change -94.31%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.591M 31.66M 28.93M
YoY Change -80.68% -51.34% -56.29%
NET CHANGE
Cash From Operating Activities 16.44M 18.61M 15.29M
Cash From Investing Activities -26.60M -50.77M -43.57M
Cash From Financing Activities 5.591M 31.66M 28.93M
Net Change In Cash -4.569M -501.0K 647.0K
YoY Change -806.18% -91.75% -93.32%
FREE CASH FLOW
Cash From Operating Activities $16.44M $18.61M $15.29M
Capital Expenditures -$26.31M -$50.53M -$43.75M
Free Cash Flow $42.74M $69.14M $59.04M
YoY Change -27.6% 14.4% -27.14%

Facts In Submission

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DividendsPreferredStock
1455000
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
864000
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
595819000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
4286000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
3323000
CY2022Q1 us-gaap Depreciation
Depreciation
9402000
CY2021Q1 us-gaap Depreciation
Depreciation
7848000
CY2022Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
3755000
CY2021Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
2984000
CY2022Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
199000
CY2021Q1 us-gaap Amortization Of Above And Below Market Leases
AmortizationOfAboveAndBelowMarketLeases
60000
CY2022Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
515000
CY2021Q1 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
425000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1287000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1715000
CY2022Q1 us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
153000
CY2021Q1 us-gaap Noncash Merger Related Costs
NoncashMergerRelatedCosts
24000
CY2022Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-29000
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-10000
CY2022Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
407000
CY2021Q1 us-gaap Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
-11000
CY2022Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1297000
CY2021Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1404000
CY2022Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
532000
CY2021Q1 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-551000
CY2022Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-1030000
CY2021Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-287000
CY2022Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
76000
CY2021Q1 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
27000
CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
16436000
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
15287000
CY2022Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
24468000
CY2021Q1 us-gaap Payments For Proceeds From Productive Assets
PaymentsForProceedsFromProductiveAssets
43348000
CY2022Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
1284000
CY2021Q1 us-gaap Payments For Proceeds From Other Deposits
PaymentsForProceedsFromOtherDeposits
-300000
CY2022Q1 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-288000
CY2021Q1 us-gaap Proceeds From Payments For Long Term Loans For Related Parties
ProceedsFromPaymentsForLongTermLoansForRelatedParties
-127000
CY2022Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
556000
CY2021Q1 us-gaap Payments For Proceeds From Investments
PaymentsForProceedsFromInvestments
397000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26596000
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-43572000
CY2022Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8210000
CY2021Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
144312000
CY2022Q1 us-gaap Payments For Deposits Applied To Debt Retirements
PaymentsForDepositsAppliedToDebtRetirements
456000
CY2021Q1 us-gaap Payments For Deposits Applied To Debt Retirements
PaymentsForDepositsAppliedToDebtRetirements
646000
CY2022Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
282000
CY2021Q1 us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
190000
CY2022Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
14100000
CY2021Q1 us-gaap Proceeds From Long Term Lines Of Credit
ProceedsFromLongTermLinesOfCredit
50100000
CY2021Q1 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
151800000
CY2021Q1 gmre Payments Of Debt Issuance Cost
PaymentsOfDebtIssuanceCost
74000
CY2022Q1 gmre Payment Of Dividends Common Stock Op And Ltip Units
PaymentOfDividendsCommonStockOpAndLtipUnits
14526000
CY2021Q1 gmre Payment Of Dividends Common Stock Op And Ltip Units
PaymentOfDividendsCommonStockOpAndLtipUnits
11315000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1455000
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1455000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5591000
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
28932000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4569000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
647000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12759000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10753000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8190000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11400000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
4258000
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
4602000
CY2022Q1 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
15823000
CY2021Q1 us-gaap Liabilities Assumed1
LiabilitiesAssumed1
14482000
CY2022Q1 gmre Change In Fair Value Of Interest Rate Swap Recognized In Other Comprehensive Income Loss Non Cash Or Partial Non Cash Transaction
ChangeInFairValueOfInterestRateSwapRecognizedInOtherComprehensiveIncomeLossNonCashOrPartialNonCashTransaction
-17393000
CY2021Q1 gmre Change In Fair Value Of Interest Rate Swap Recognized In Other Comprehensive Income Loss Non Cash Or Partial Non Cash Transaction
ChangeInFairValueOfInterestRateSwapRecognizedInOtherComprehensiveIncomeLossNonCashOrPartialNonCashTransaction
-3631000
CY2022Q1 gmre Units Converted To Common Stock
UnitsConvertedToCommonStock
682000
CY2021Q1 gmre Accrued Common Stock Offering Costs
AccruedCommonStockOfferingCosts
220000
CY2022Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1841000
CY2021Q1 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
244000
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of the condensed consolidated financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and footnotes. Actual results could differ from those estimates.</p>
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1854000
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5304000
CY2022Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6336000
CY2021Q1 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
6096000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8190000
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
11400000
CY2022Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
6477000
CY2021Q1 us-gaap Accounts Receivable Net
AccountsReceivableNet
6070000
CY2022Q1 gmre Receivables Earned But Not Paid Relating To Tenant Rent
ReceivablesEarnedButNotPaidRelatingToTenantRent
1792000
CY2022Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1152000
CY2022Q1 gmre Tenant Reimbursement Amount
TenantReimbursementAmount
3533000
CY2021Q4 gmre Receivables Earned But Not Paid Relating To Tenant Rent
ReceivablesEarnedButNotPaidRelatingToTenantRent
1309000
CY2021Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1158000
CY2021 gmre Tenant Reimbursement Amount
TenantReimbursementAmount
3603000
CY2022Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
350000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
350000
CY2022Q1 us-gaap Escrow Deposit
EscrowDeposit
7697000
CY2021Q4 us-gaap Escrow Deposit
EscrowDeposit
5957000
CY2022Q1 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
26714000
CY2021Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
25417000
CY2022Q1 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
26551000
CY2022Q1 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
163000
CY2021Q4 us-gaap Deferred Rent Receivables Net
DeferredRentReceivablesNet
25356000
CY2021Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
61000
CY2022Q1 us-gaap Other Assets
OtherAssets
6345000
CY2021Q4 us-gaap Other Assets
OtherAssets
6232000
CY2022Q1 gmre Receivables To Be Collected To Pay Specific Tenant Expenses
ReceivablesToBeCollectedToPaySpecificTenantExpenses
3728000
CY2022Q1 gmre Capitalized Pre Acquisition Costs
CapitalizedPreAcquisitionCosts
494000
CY2022Q1 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1899000
CY2022Q1 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
224000
CY2021Q4 gmre Receivables To Be Collected To Pay Specific Tenant Expenses
ReceivablesToBeCollectedToPaySpecificTenantExpenses
3809000
CY2021Q4 gmre Capitalized Pre Acquisition Costs
CapitalizedPreAcquisitionCosts
257000
CY2021Q4 us-gaap Prepaid Expense And Other Assets
PrepaidExpenseAndOtherAssets
1916000
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
250000
CY2022Q1 us-gaap Goodwill
Goodwill
5903000
CY2021Q4 us-gaap Goodwill
Goodwill
5903000
CY2022Q1 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0
CY2021Q4 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
0
CY2022Q1 us-gaap Other Liabilities
OtherLiabilities
7090000
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
7709000
CY2022Q1 gmre Right Of Use Liabilities
RightOfUseLiabilities
3179000
CY2022Q1 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
3911000
CY2021Q4 gmre Right Of Use Liabilities
RightOfUseLiabilities
4479000
CY2021Q4 us-gaap Accrued Rent Current And Noncurrent
AccruedRentCurrentAndNoncurrent
3230000
CY2022Q1 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
4
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1343003000
CY2022Q1 us-gaap Accumulated Capitalized Interest Costs
AccumulatedCapitalizedInterestCosts
180000
CY2022Q1 us-gaap Property Plant And Equipment Additions
PropertyPlantAndEquipmentAdditions
25153000
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1368156000
CY2022Q1 us-gaap Depreciation
Depreciation
9402000
CY2021Q1 us-gaap Depreciation
Depreciation
7848000
CY2022Q1 gmre Tenant Improvement Allowances Receivable
TenantImprovementAllowancesReceivable
27892000
CY2022Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
24112000
CY2021Q4 us-gaap Proceeds From Sale Of Buildings
ProceedsFromSaleOfBuildings
44600000
CY2022Q1 us-gaap Disposal Group Including Discontinued Operation Property Plant And Equipment Current
DisposalGroupIncludingDiscontinuedOperationPropertyPlantAndEquipmentCurrent
29000000
CY2021 us-gaap Number Of Businesses Acquired
NumberOfBusinessesAcquired
20
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1142905000
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1343003000
CY2022Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
130790000
CY2022Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
44726000
CY2022Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
86064000
CY2022Q1 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
12401000
CY2022Q1 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4240000
CY2022Q1 us-gaap Below Market Lease Net
BelowMarketLeaseNet
8161000
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
127931000
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
40246000
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
87685000
CY2021Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
11842000
CY2021Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
3714000
CY2021Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
8128000
CY2022Q1 us-gaap Below Market Lease Amortization Income Remainder Of Fiscal Year
BelowMarketLeaseAmortizationIncomeRemainderOfFiscalYear
634000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
11264000
CY2022Q1 us-gaap Below Market Lease Amortization Income Next Twelve Months
BelowMarketLeaseAmortizationIncomeNextTwelveMonths
882000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
14061000
CY2022Q1 us-gaap Below Market Lease Amortization Income Year Two
BelowMarketLeaseAmortizationIncomeYearTwo
721000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
11952000
CY2022Q1 us-gaap Below Market Lease Amortization Income Year Three
BelowMarketLeaseAmortizationIncomeYearThree
1110000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
6891000
CY2022Q1 gmre Below Market Lease Amortization Income After Year Four
BelowMarketLeaseAmortizationIncomeAfterYearFour
3750000
CY2022Q1 gmre Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
16975000
CY2022Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
8476000
CY2022Q1 us-gaap Below Market Lease Amortization Income Year Four
BelowMarketLeaseAmortizationIncomeYearFour
1187000
CY2022Q1 gmre Below Market Lease Net1
BelowMarketLeaseNet1
8284000
CY2022Q1 gmre Finite Lived Intangible Assets Net1
FiniteLivedIntangibleAssetsNet1
69619000
CY2022Q1 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
14100000
CY2022Q1 us-gaap Line Of Credit
LineOfCredit
529130000
CY2021Q4 us-gaap Line Of Credit
LineOfCredit
514567000
CY2021Q1 gmre Line Of Credit Cash Paid Other
LineOfCreditCashPaidOther
74000
CY2022Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
57487000
CY2021Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
57769000
CY2022Q1 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
568000
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
607000
CY2022Q1 us-gaap Notes Payable
NotesPayable
56919000
CY2021Q4 us-gaap Notes Payable
NotesPayable
57162000
CY2022Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
39000
CY2021Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
63000
CY2022Q1 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease Before Adjustments After Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseBeforeAdjustmentsAfterTax
-15878000
CY2021Q1 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease Before Adjustments After Tax
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseBeforeAdjustmentsAfterTax
-2082000
CY2022Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1515000
CY2021Q1 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
1549000
CY2022Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
17393000
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3631000
CY2022Q1 gmre Additional Interest Expense
AdditionalInterestExpense
388000
CY2021Q3 us-gaap Interest Expense
InterestExpense
4801000
CY2022Q1 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0291
CY2022Q1 us-gaap Debt Instrument Term
DebtInstrumentTerm
P4Y10D
CY2021Q4 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0287
CY2021 us-gaap Debt Instrument Term
DebtInstrumentTerm
P4Y3M10D
CY2022Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2022Q1 gmre Dividend Accrued
DividendAccrued
970000
CY2021Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1455000
CY2022Q1 us-gaap Payments Of Dividends
PaymentsOfDividends
1455000
CY2022Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
500000000
CY2022Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
65400000
CY2021Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
64880000
CY2022Q1 gmre Payment Of Dividends Common Stock Op And Ltip Units
PaymentOfDividendsCommonStockOpAndLtipUnits
14526000
CY2021Q1 gmre Payment Of Dividends Common Stock Op And Ltip Units
PaymentOfDividendsCommonStockOpAndLtipUnits
11315000
CY2022Q1 us-gaap Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
35
CY2022Q1 us-gaap Partners Capital Account Treasury Units Purchases
PartnersCapitalAccountTreasuryUnitsPurchases
600000
CY2021 us-gaap Partners Capital Account Units Treasury
PartnersCapitalAccountUnitsTreasury
62
CY2021 us-gaap Partners Capital Account Treasury Units Purchases
PartnersCapitalAccountTreasuryUnitsPurchases
919000
CY2022Q1 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
1667000
CY2021Q4 us-gaap Limited Partners Capital Account Units Issued
LimitedPartnersCapitalAccountUnitsIssued
1702000
CY2022Q1 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
8480000
CY2021Q4 us-gaap Limited Partners Capital Account
LimitedPartnersCapitalAccount
9080000
CY2022Q1 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
451000
CY2021Q4 us-gaap Due From Related Parties Current
DueFromRelatedPartiesCurrent
163000
CY2022Q1 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0
CY2021Q4 us-gaap Due To Related Parties Current And Noncurrent
DueToRelatedPartiesCurrentAndNoncurrent
0
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
1837000
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
670000
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.075
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2507000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
337000
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1287000
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
1715000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
7800000
CY2022Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y2M12D
CY2022Q1 gmre Operating Lease Average Remaining Lease Term
OperatingLeaseAverageRemainingLeaseTerm
P10Y
CY2022Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
31852000
CY2021Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
27325000
CY2022Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1947000
CY2021Q1 us-gaap Operating Lease Variable Lease Income
OperatingLeaseVariableLeaseIncome
1374000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
81327000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
105373000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
96043000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
82814000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
75110000
CY2022Q1 gmre Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
364217000
CY2022Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
804884000
CY2022Q1 gmre Buildings Located On Land That Is Subject To Operating Ground Leases
BuildingsLocatedOnLandThatIsSubjectToOperatingGroundLeases
7
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P40Y
CY2022Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
55000
CY2021Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
36000
CY2022Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
28000
CY2021Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
30000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
331000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
206000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
162000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
163000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
165000
CY2022Q1 gmre Lessee Operating Lease Liability To Be Paid After Year Four
LesseeOperatingLeaseLiabilityToBePaidAfterYearFour
6042000
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7069000
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3890000
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3179000
CY2022Q1 gmre Number Of Tenants
NumberOfTenants
201
CY2022Q1 gmre Number Of Facilities Leased
NumberOfFacilitiesLeased
109
CY2022Q1 us-gaap Concentration Risk Customer
ConcentrationRiskCustomer
During this period there were no tenants with rental revenue that exceeded 10% of the Company’s rental revenue.    

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