Global Medical REIT Inc.

Greetings and welcome to Global Medical REIT second quarter 2021 earnings call. At this time, all participants are in a listen only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Steve Sweat, Investor Relations. Please go ahead.

Thank you. Good morning, everyone, and welcome to Global Medical Reits' second quarter earnings conference call. On the call today, we have Jeff Bush, Chief Executive Officer, Alfonso Leone, Chief Investment Officer, and Bob Kiernan, Chief Financial Officer. Please note the use of forward-looking statements by the company on this conference call. Statements made on this call may include statements which are not historical facts. and are considered forward-looking, including statements related to the COVID-19 pandemic and its effect on our tenants' businesses. The company intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and is making this statement for purpose of complying with those safe harbor provisions. Furthermore, actual results may differ materially from those described in the forward-looking statements. and will be affected by a variety of risks and factors that are beyond the company's control, including without limitation those contained in the company's 10-K for the year ended December 31st, 2020, and its other SEC filings. The company assumes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, on this call, the company may refer to certain non-GAAP financial measures such as funds from operations and adjusted funds from operations. You can find a tabular reconciliation of these non-GAAP financial measures to the most currently comparable GAAP numbers in the company's earnings release and in filings with the SEC. Additional information may be found on the investor relations page of the company's website at www.globalmedicalreit.com. I would now like to turn the call over to Jeff Busch, Chief Executive Officer of Global Medical Reef. Jeff?

Thank you, Steve. Good morning, and thank you for joining our second quarter 2021 earnings conference call. Joining me today are Alfonso Leon, our Chief Investment Officer, and Bob Kiernan, our Chief Financial Officer. We hope that everybody continues to stay healthy and enjoy their summer. GMRE is committed to building a high-quality portfolio of medical facilities aligned with strong operators and healthcare systems that will generate stable and growing returns for our investors. We continue to execute against this strategy and are very pleased with our performance in 2021. In the second quarter, we further strengthened our balance sheet and enhanced our financial flexibility, positioning us to continue executing on our growth plans and drive value for our investors. Importantly, our 2021 equity issuance have reduced our leverage from 52% at the year end of 2020 to 41% at both March 31st and June 30th, 2021. Specifically, in the second quarter, we raised $51 million to our ATM program at an average price of $15.27 per share, adding to the $150 million of equity we raised in the first quarter. In addition to our equity activity, we also amended our credit facility in the second quarter. The recast facility is unsecured and now has a total capacity of $750 million. We also reduced our pricing grid meaningfully and extended our debt maturity. With respect to earnings in the second quarter, we grew net income attributable to common shareholders to 4 cents per share. We also grew our FFO per share and unit to 22 cents, up 16 percent from the second quarter of 2020. And our AFFO per share and unit to 23 cents, up 10% compared to the same quarter last year. Despite the fact that we're seeing increased competition for acquisitions in our target markets, we remain disciplined and have been able to complete 140 million of acquisitions at a 7.4% weighted average cap rate to date in 2021. We have made steady progress so far this year, and we look forward to continuing to provide value to our shareholders through the rest of 2021. With that, I'd like to turn the call over to Alfonso to discuss our acquisition activity.