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Global Medical REIT Inc. - GMRE STOCK NEWS

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.

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Global Medical REIT (NYSE: GMRE) has declared its second quarter 2021 dividends. The common cash dividend is set at $0.205 per share, payable on July 8, 2021 to shareholders on record as of June 24, 2021. Additionally, a quarterly cash dividend of $0.46875 per share will be paid on the Series A Preferred Stock on August 2, 2021 for stockholders of record by July 15, 2021. This reflects GMRE's continued commitment to returning value to its investors.

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Global Medical REIT Inc. (GMRE) reports Q1 2021 results with a net income of $1.8 million ($0.03/share), an increase from $1.3 million from last year. Total revenue rose 26.3% to $27.3 million, driven by nine acquisitions totaling $101 million at a 7.4% cap rate. Funds from Operations (FFO) improved to $0.23/share, while Adjusted Funds from Operations (AFFO) rose to $0.24/share. The portfolio remains robust with 99.1% occupancy. The company reduced leverage from 51.7% to 41.1% following $150 million in equity offerings and an improved credit facility, enhancing financial stability.

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Global Medical REIT (NYSE: GMRE) has successfully amended its credit facility, increasing its borrowing capacity by $150 million to a total of $750 million. The facility now features reduced borrowing costs, conversion to an unsecured facility, and extended maturity dates for both the revolver and term loan components. The new structure consists of a $400 million revolver, a $350 million term loan, and a $500 million accordion feature. CEO Jeffrey M. Busch highlighted the enhanced financial flexibility and improved credit profile this agreement provides, crucial for the company's growth strategy.

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Global Medical REIT (NYSE: GMRE) plans to announce its Q1 2021 financial results on May 5, 2021, after market close. A conference call is scheduled for May 6, 2021, at 9:00 a.m. ET, featuring CEO Jeffrey Busch, CFO Robert Kiernan, and CIO Alfonzo Leon. Interested parties can join via a live webcast on the company's investor website or call in using designated U.S. and international numbers. A replay of the call will be available from 12:00 p.m. ET on May 6 until midnight ET on May 20, 2021.

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Global Medical REIT Inc. (NYSE:GMRE) has announced a public offering of 7,500,000 shares of common stock priced at $13.30 per share, aiming to raise gross proceeds of $99,750,000. The funds will be utilized for repaying debt, funding acquisitions, and general corporate purposes. An additional 1,125,000 shares may be purchased underwriters within 30 days. The offering is set to close on March 18, 2021, pending customary conditions. The shares will be issued under a shelf registration statement effective since June 17, 2020.

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Global Medical REIT Inc. (NYSE:GMRE) announced an underwritten public offering of 7,500,000 shares of common stock. The offering is subject to market conditions, with an option for underwriters to purchase an additional 1,125,000 shares. Proceeds will be used to reduce credit facility debt, fund acquisitions, and for general corporate purposes. J.P. Morgan, Baird, and BMO Capital Markets are the joint book-running managers. The offering follows the Company's SEC shelf registration effective June 17, 2020.

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Global Medical REIT (NYSE: GMRE) reported its financial results for Q4 and full year 2020. Q4 net income was $1.1 million ($0.02/share), down from $1.2 million ($0.03/share) in Q4 2019. Total revenue rose 21.9% year-over-year to $24.9 million. Full-year revenue increased 32.5% to $93.7 million, while net loss was $(7.7) million ($0.17/share) due to a one-time expense. The company completed 18 acquisitions worth $226.5 million in 2020. The dividend was increased to $0.205 per share for Q1 2021. As of February 28, 2021, liquidity stood at approximately $85 million.

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Global Medical REIT (NYSE: GMRE) will release its fourth quarter 2020 financial results on March 3, 2021, after market close. A conference call is scheduled for March 4, 2021, at 9:00 a.m. ET, led by key executives including Chairman Jeffrey Busch. Participants can join the call via a live webcast on the company's investor website or by dial-in. A replay of the call will be available until March 18, 2021. The company focuses on acquiring and leasing healthcare facilities, supported by a team with extensive industry experience.

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Global Medical REIT (NYSE: GMRE) announced a productive fourth quarter of 2020, completing $80 million in acquisitions, bringing total acquisitions for the year to $226.5 million at a 7.8% cap rate. The Company also extended leases representing 7.1% of its annualized base rent, increasing the weighted average lease term from 7.8 to 8.2 years. CEO Jeff Busch highlighted the resilience of their business model during the pandemic and expressed optimism for growth in 2021.

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Global Medical REIT (NYSE: GMRE) announced the declaration of its fourth quarter 2020 dividend. A cash dividend of $0.20 per share of common stock will be paid on January 11, 2021, to stockholders of record as of December 28, 2020. Additionally, a dividend of $0.46875 per share on the Series A Preferred Stock will be paid on February 1, 2021, to preferred stockholders of record as of January 15, 2021. This reflects GMRE's commitment to returning value to shareholders.

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FAQ

What is the current stock price of Global Medical REIT (GMRE)?

The current stock price of Global Medical REIT (GMRE) is $7.66 as of January 3, 2025.

What is the market cap of Global Medical REIT (GMRE)?

The market cap of Global Medical REIT (GMRE) is approximately 505.0M.

What does Global Medical REIT Inc. do?

Global Medical REIT Inc. acquires purpose-built healthcare facilities and leases them to strong healthcare systems and physician groups.

Where is Global Medical REIT Inc. based?

Global Medical REIT Inc. is based in Maryland.

What is the primary business objective of Global Medical REIT Inc.?

The primary objective is to provide attractive, risk-adjusted returns to its stockholders through reliable dividends and long-term capital appreciation.

Where are GMRE's healthcare facilities located?

GMRE's healthcare facilities are located in secondary markets and the suburbs of primary markets.

What type of leases does GMRE use for its properties?

GMRE typically uses triple-net leases for its properties, where the tenant is responsible for most property expenses.

Who are the tenants of GMRE's properties?

The tenants are generally physician groups and regional and national healthcare systems.

What are recent achievements of GMRE?

Recent achievements include expanding its portfolio of healthcare facilities and strengthening partnerships with leading healthcare systems.

How does GMRE ensure steady income?

GMRE ensures steady income through triple-net leases, where tenants pay most property expenses, ensuring a reliable income stream.

What is the focus of GMRE's current projects?

GMRE focuses on acquiring high-quality, specialized healthcare properties and maintaining strong tenant relationships.

How does GMRE navigate market fluctuations?

GMRE navigates market fluctuations with a solid financial foundation and a strategic vision, focusing on sustainable growth.
Global Medical REIT Inc.

NYSE:GMRE

GMRE Rankings

GMRE Stock Data

505.03M
63.03M
5.65%
62.93%
1.58%
REIT - Healthcare Facilities
Real Estate Investment Trusts
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