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) 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.