Global Medical REIT Inc. (NYSE:GMRE) Q3 2023 Earnings Call Transcript

Jeffery Busch: Yes. This is Jeff, and I’m also on the Board. So I’m in that discussion Yes. Ever — the Board does not want to change the dividend. I wouldn’t expect it going up either, but — for the immediate future. We feel safe with the dividend. We think we sort of hit a bottom here. We sold out a bunch of properties brought down our variables in debt we still get our increases every year and our increases every year are now exceeding what the additional debt costs could possibly be unless something gets too wild. But we think we’re okay with the dividend. And I totally expect so there’s no move to do anything with it.

Bryan Maher: Great. And just one for me, maybe for Alfonzo, when you’re talking to potential sellers, do they seem to continue to be somewhat receptive to taking OP units? Has that tone changed at all? What’s going on in that regard?

Alfonzo Leon: Sure. With the OP, it’s always been curious to me. It really is hard to predict. I find it curious that we’ve had success in California with OPs, I think that’s — there’s a specific state context that might be a reason for that. It also is highly dependent on the specific like estate planning of the physicians. And for some physicians, by the time we were talking to them, they were already thinking about it and had done a lot of homework about OP unit shares, up REITs, down REITs. And so we were — we didn’t — there wasn’t much that we had to explain or walk through. I mean, they pretty much knew what they wanted. And so it’s really hard to predict. And we make a point of mentioning it whenever we think it makes sense. But it’s not a product that a lot of people are familiar with are comfortable with and want to move forward with an exchange for their properties.

Operator: We have reached the end of our question-and-answer session. This concludes today’s conference. Thank you for your participation. You may disconnect your lines at this time.