Welcome to our dedicated page for Global Medical REIT news (Ticker: GMRE), a resource for investors and traders seeking the latest updates and insights on Global Medical REIT stock.
Global Medical REIT Inc. (GMRE) is a Maryland-based real estate investment trust focused on acquiring and leasing specialized healthcare facilities. The company's primary aim is to offer attractive, risk-adjusted returns to its shareholders by providing consistent dividends and promoting long-term capital appreciation. GMRE's portfolio includes purpose-built healthcare facilities leased to physician groups and regional and national healthcare systems.
The company's properties are predominantly located in secondary markets and the suburbs of primary markets, ensuring a diverse geographic footprint. Each facility is generally leased to single tenants under triple-net leases, where the tenant is responsible for most property expenses, providing a steady income stream for GMRE.
Recent achievements include expanding its portfolio of healthcare facilities and strengthening partnerships with leading healthcare systems and physician groups. These strategic acquisitions have bolstered GMRE's position in the healthcare real estate market, reflecting its commitment to growth and stability.
As of the latest updates, GMRE continues to focus on acquiring high-quality, specialized healthcare properties and maintaining strong tenant relationships to ensure sustainable growth. The company has shown resilience in navigating market fluctuations, supported by its solid financial foundation and strategic vision.
Global Medical REIT (NYSE: GMRE) has announced its 2024 fourth quarter dividend distributions. The company will pay a common dividend of $0.21 per share/unit on January 8, 2025, to stockholders of record as of December 20, 2024. Additionally, GMRE declared a Series A Preferred Stock dividend of $0.46875 per share, payable on January 31, 2025, to preferred stockholders of record as of January 15, 2025, covering the period from October 31, 2024, through January 30, 2025.
Global Medical REIT (NYSE: GMRE) reported third quarter 2024 financial results, highlighting $80.3 million in completed acquisitions of single-tenant triple-net medical real estate. Key metrics include net income of $1.8 million ($0.03 per diluted share), FFO of $13.7 million ($0.19 per share), and AFFO of $15.3 million ($0.22 per share). The company's portfolio maintained 96.1% occupancy with annualized base rent of $107.8 million. Notable developments include the acquisition of a 15-property portfolio and entering into a purchase agreement for a $70 million five-property portfolio at a 9.0% cap rate. The company also completed strategic dispositions and addressed Steward Health Care's bankruptcy through a new lease agreement with CHRISTUS Health.
Global Medical REIT Inc. (NYSE: GMRE), a net-lease medical REIT, has announced its schedule for the release of its third quarter 2024 financial results. The company plans to release the results after market close on Wednesday, November 6, 2024, followed by a conference call on Thursday, November 7, 2024, at 9:00 a.m. Eastern Time.
The conference call will be hosted by key executives including Jeffrey Busch (Chairman, President, and CEO), Robert Kiernan (CFO), and Alfonzo Leon (CIO). Participants can access the call via a live webcast on the company's investor information website or through dial-in numbers provided for both U.S. and international callers.
A replay of the call will be available from approximately 12:00 p.m. Eastern Time on November 7, 2024, through November 21, 2024. GMRE specializes in acquiring healthcare facilities and leasing them to physician groups and healthcare systems.
Global Medical REIT Inc. (NYSE: GMRE) has announced a new 15-year, triple-net lease with CHRISTUS Health for its healthcare facility in Beaumont, Texas. This development follows the Chapter 11 bankruptcy filing of the previous tenant, Steward Health Care, on May 6, 2024. Steward has requested its lease be rejected by September 15, 2024, pending court approval.
CHRISTUS plans to use the facility for services including robotic surgery, orthopedic care, and emergency services. GMRE's CEO, Jeffrey M. Busch, expressed excitement about the new partnership, highlighting the facility's quality and marketability. Paul Generale, EVP and Chief Strategy Officer of CHRISTUS, stated that the Beaumont facility will be important in expanding healthcare services in Southeast Texas.
Global Medical REIT Inc. (NYSE: GMRE), a net-lease medical REIT, has announced its 2024 third quarter dividends. The Board of Directors declared a common stock dividend of $0.21 per share, payable on October 8, 2024, to stockholders of record as of September 20, 2024. Additionally, a quarterly cash dividend of $0.46875 per share was declared on its Series A Cumulative Redeemable Preferred Stock, to be paid on October 31, 2024, to preferred stockholders of record as of October 15, 2024. This preferred dividend covers the period from July 31, 2024, through October 30, 2024.
Global Medical REIT (NYSE: GMRE) announced its Q2 2024 financial results, reporting a net loss of $3.1 million, or $0.05 per diluted share, compared to net income of $11.8 million in Q2 2023. The results were impacted by a loss on the sale of an investment property and a previous gain on sales.
FFO for the quarter was $13.9 million, or $0.20 per share and unit, down from $14.7 million in Q2 2023. AFFO was $15.7 million, or $0.22 per share and unit, slightly down from $15.9 million in the prior year.
GMRE entered into a purchase agreement for a 15-property outpatient medical real estate portfolio worth $80.3 million, closing on five properties for $30.8 million in July. Portfolio occupancy was 96.2% by June 30, 2024.
Rental revenue decreased by 5.8% year-over-year to $34.2 million, with total expenses also reducing to $32.8 million from $35 million. Interest expense for the quarter was $7 million, down from $8.5 million. The company did not issue any shares under its ATM program in Q2 2024.
Global Medical REIT Inc. (NYSE: GMRE), a net-lease medical REIT, has announced its schedule for the second quarter 2024 earnings release and webcast. The company will release its financial results after market close on Tuesday, August 6, 2024. A conference call to discuss the results is scheduled for Wednesday, August 7, 2024, at 9:00 a.m. Eastern Time.
The call will be hosted by key executives including CEO Jeffrey Busch, CFO Robert Kiernan, and CIO Alfonzo Leon. Participants can access the webcast through the company's investor information section or join via dial-in. A replay will be available until August 21, 2024.
Global Medical REIT (NYSE: GMRE) has published its Corporate Social Responsibility (CSR) Report, detailing its environmental, social, and governance (ESG) initiatives. The company, led by CEO Jeffrey M. Busch, is committed to integrating ESG principles into its business operations. The report highlights a significant increase in energy tracking among tenants, growing from 11% in 2019 to 55% currently. Social initiatives focus on workforce cohesion and diversity, while governance efforts emphasize integrity, transparency, and accountability. The report is available digitally for stakeholders to review.
Global Medical REIT (GMRE) announced its Board of Directors has declared the 2024 second quarter dividends for both common and preferred stocks.
A cash dividend of $0.21 per share of common stock will be paid on July 9, 2024, to shareholders of record as of June 21, 2024.
Additionally, a quarterly cash dividend of $0.46875 per share will be paid on Series A Preferred Stock on July 31, 2024, to stockholders of record as of July 15, 2024, covering the period from April 30, 2024, to July 30, 2024.
Global Medical REIT Inc. announces Q1 2024 financial results with net income of $0.8 million, FFO of $14.9 million, and AFFO of $16.5 million. The company acquired a 15-property medical real estate portfolio for $81.3 million. Rental revenue decreased by 3.0% to $35.1 million due to property dispositions. The Company's portfolio leased occupancy was 96.4% with a weighted average lease term of 5.8 years. Steward Health Care filed for Chapter 11 bankruptcy, representing 2.8% of the Company's annual base rent. The Company's total debt was $617.8 million with leverage at 44.0%. Dividends of $0.21 per share were paid to common stockholders and unitholders.
FAQ
What is the current stock price of Global Medical REIT (GMRE)?
What is the market cap of Global Medical REIT (GMRE)?
What does Global Medical REIT Inc. do?
Where is Global Medical REIT Inc. based?
What is the primary business objective of Global Medical REIT Inc.?
Where are GMRE's healthcare facilities located?
What type of leases does GMRE use for its properties?
Who are the tenants of GMRE's properties?
What are recent achievements of GMRE?
How does GMRE ensure steady income?
What is the focus of GMRE's current projects?
How does GMRE navigate market fluctuations?
