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., now Chiron Real Estate Inc., reports developments for a net-lease medical REIT that owns healthcare facilities leased to physician groups and regional and national healthcare systems. Company news centers on financial results, earnings calls, dividend declarations and tax treatment for common and preferred stock, and capital-structure actions involving preferred securities and indebtedness.
Updates also cover governance changes, shareholder voting matters, and the completed rebrand from Global Medical REIT to Chiron Real Estate, including the related ticker change and continuity of REIT qualification, organizational structure and stockholder rights.
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.