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 Inc. (NYSE: GMRE) announced its plan to release first quarter 2023 financial results after market close on May 3, 2023. The company will hold a conference call on May 4, 2023, at 9:00 a.m. Eastern Time to discuss these results, hosted by CEO Jeffrey Busch, CFO Robert Kiernan, and CIO Alfonzo Leon. Interested participants can access the call via a live webcast or through dial-in numbers for both US and international participants. A replay will be available starting at 12:00 p.m. Eastern Time on May 4, through midnight Eastern Time on May 18, 2023.
Global Medical REIT (NYSE: GMRE) announced its 2023 first quarter cash dividends for common and preferred shares. The common cash dividend is set at $0.21 per share, payable on April 11, 2023, to stockholders of record as of March 24, 2023. Additionally, the Series A preferred dividend is $0.46875 per share, to be paid on May 1, 2023, for shareholders on record as of April 15, 2023. This reflects the company's ongoing commitment to return value to shareholders through consistent dividends.
Global Medical REIT (NYSE: GMRE) reported its financial results for 2022, revealing a 19.6% year-over-year increase in total revenue to $36.3 million in Q4 and $137.3 million for the year. Net income attributable to common stockholders for Q4 was $0.4 million ($0.01 per diluted share) compared to $3.8 million ($0.06 per diluted share) in the prior year. Full-year net income rose to $13.3 million ($0.20 per share) versus $11.8 million ($0.19 per share) previously. The company completed 14 acquisitions totaling $149 million. Rental revenue increased 19.7% to $36.3 million in Q4, despite total expenses climbing to $34.5 million.
Global Medical REIT Inc. (NYSE: GMRE) will release its fourth quarter and year-end 2022 financial results on February 28, 2023, after market close. A conference call to discuss these results is scheduled for March 1, 2023, at 9:00 a.m. ET. The call will feature key executives including Chairman and CEO Jeffrey Busch, CFO Robert Kiernan, and CIO Alfonzo Leon. Investors can access the call via a live webcast on the Company’s website, with a replay available from 12:00 p.m. ET on March 1 until midnight on March 15, 2023.
Global Medical REIT Inc. (NYSE: GMRE) recently updated its shareholders on the federal income tax treatment of the dividends paid in 2022. The relevant information has been made available on the Company's website. Shareholders are advised to review their 2022 Forms 1099 and consult with tax advisors regarding their specific tax implications. GMRE is a net-lease medical office REIT that focuses on acquiring specialized healthcare facilities and leasing them to major healthcare systems and physician groups.
Global Medical REIT (NYSE: GMRE) announced that Pipeline Health will assume its leases at the White Rock Medical Center in Dallas as part of its bankruptcy reorganization. The new lease structure will not affect cash rents, rental rates per square foot, or lease terms. Proposed amendments allow GMRE to provide up to $3.8 million for capital expenditures, with $3.1 million expected to increase future rents. Pipeline must also pay any pre-petition rents owed as of October 2022. The outcome of this bankruptcy process is seen as favorable for GMRE, reinforcing its investment strategy in the Dallas market.
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