Welcome to our dedicated page for Global Medical news (Ticker: GMRE), a resource for investors and traders seeking the latest updates and insights on Global Medical stock.
Global Medical REIT Inc. (NYSE: GMRE) is a net-lease medical real estate investment trust that acquires healthcare facilities and leases them to physician groups and regional and national healthcare systems. This news page aggregates company announcements, earnings releases and transaction updates so readers can follow how GMRE manages its healthcare real estate portfolio, capital structure and dividend policy over time.
News items for GMRE often cover quarterly and year-to-date financial results, including rental revenue trends, net income or loss, Funds From Operations (FFO), Adjusted Funds From Operations (AFFO), Funds Available for Distribution (FAD) and same-store cash net operating income. The company also reports portfolio metrics such as occupancy, leasable square footage, annualized base rent, weighted average lease term and the mix of outpatient medical buildings, inpatient rehabilitation facilities, hospitals and other medical real estate.
Investors can use this feed to track Global Medical REIT’s investment activity, such as acquisitions of medical real estate portfolios, property dispositions, and significant leasing events at key facilities. Capital markets and balance sheet developments are another recurring theme, including amendments to the company’s credit facility, interest rate hedging through forward-starting swaps, and offerings of preferred stock like the 8.00% Series B Cumulative Redeemable Preferred Stock.
Governance and corporate actions are also reflected in GMRE’s news, including changes in executive leadership, employment agreements with senior management, board retirements, the authorization of a common stock repurchase program and corporate actions such as the one-for-five reverse stock split of its common stock. For income-focused readers, dividend declarations on common and preferred shares are regularly announced with record and payment details. Bookmark this page to review Global Medical REIT’s latest disclosures and historical announcements in one place.
Global Medical REIT (NYSE: GMRE), a net-lease medical REIT specializing in healthcare facilities, has scheduled its fourth quarter and year-end 2024 financial results announcement. The company will release its results after market close on Thursday, February 27, 2025, followed by a conference call on Friday, February 28, 2025, at 9:00 a.m. Eastern Time.
The conference call will feature Chairman, President, and CEO Jeffrey Busch, CFO Robert Kiernan, and CIO Alfonzo Leon. Investors can access the webcast through the company's investor information website. A replay will be available from 12:00 p.m. Eastern Time on February 28 until March 14, 2025.
Global Medical REIT (NYSE: GMRE), a net-lease medical real estate investment trust, has announced the availability of information regarding the federal income tax treatment of its 2024 dividends for both common and preferred stock. The information has been posted on the company's investor relations website.
The company advises stockholders to carefully review their Forms 1099 and other 2024 tax statements from their brokerage firms to ensure consistency with the posted information. GMRE also recommends that shareholders consult with professional tax advisors regarding their individual tax situations.
Global Medical REIT (NYSE: GMRE) announced a CEO succession plan, with Jeffrey Busch transitioning from his CEO position by June 30, 2025, or earlier if a successor is appointed. Busch, who has led GMRE since 2014, will remain on the Board as non-executive Chairman and intends to stand for re-election at the 2025 annual meeting.
Under Busch's leadership, GMRE has grown its portfolio to over 4.8 million square feet leased to premier healthcare providers. The Board's Nominating and Corporate Governance Committee will conduct a comprehensive search for a new CEO with assistance from an executive search firm. Additionally, Lori Wittman has been appointed as Lead Independent Director effective January 1, 2025.
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.