Global Medical Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

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.

Global Medical REIT (NYSE: GMRE) reported a net loss of $(10.3) million, or $(0.22) per diluted share, for Q3 2020, primarily due to a $12.1 million management internalization expense. This contrasts with a net income of $0.8 million in Q3 2019. Revenue increased by 37.9% to $25.1 million, driven by acquisitions and rent increases. The company completed 10 acquisitions totaling $146.7 million in 2020, with a weighted average cap rate of 8.1%. AFFO rose 21% year-over-year to $0.23 per share. As of September 30, GMRE's portfolio was 99% occupied.

Global Medical REIT Inc. (NYSE: GMRE) announced it will release its third quarter 2020 financial results on November 4, 2020, after market close. A conference call to discuss these results will take place on November 5, 2020, at 9:00 a.m. ET, hosted by key executives including the CEO and CFO. Participants can access the call via live webcast or through dial-in numbers provided for U.S. and international attendees. A replay of the call will be available until November 19, 2020, with specific dial-in information for access.