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Global Medical REIT (GMRE)
NYSE:GMRE
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0Last Year’s EPS
-$0.01Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -12.72%
|Next Earnings Date:Mar 04, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted positive aspects such as high occupancy rates, successful acquisitions, and effective balance sheet management. However, challenges included decreased net income and revenues, as well as the impact of Steward Healthcare's bankruptcy. Despite these challenges, management expressed optimism about future acquisitions and strategic initiatives.Company Guidance
During the Global Medical REIT (GMRE) Q3 2024 earnings call, key metrics and guidance were highlighted by executives. The portfolio's occupancy was 96.1% with a weighted average lease term of 5.6 years and a rent coverage ratio of 4.6x. Net income attributable to common shareholders was $1.8 million or $0.03 per share, a decrease from $3.1 million or $0.05 per share in Q3 2023. FFO and AFFO per share were $0.19 and $0.22, respectively. The company completed a significant acquisition of a 15-property portfolio with a purchase price of $80.3 million and an 8% cap rate, and is under contract for an additional $70 million portfolio at a 9% cap rate. Asset recycling efforts yielded $12.1 million in proceeds from two medical facility sales at a 7% cap rate. The company also issued 1.2 million shares through its ATM, generating $12 million in gross proceeds. Looking ahead, GMRE plans to maintain a strong balance sheet through disciplined asset recycling and equity issuance, while exploring further acquisitions aligned with its strategy.High Portfolio Occupancy
The portfolio occupancy was reported at 96.1%, with a weighted average lease term of 5.6 years and a portfolio average rent coverage ratio of 4.6x.
Successful Acquisition Activity
Completed acquisition of a 15-property portfolio for $80.3 million with an 8% cap rate and a 5-property portfolio under contract for just under $70 million at a 9% cap rate.
Strong Balance Sheet Management
Issued 1.2 million shares through ATM generating $12 million and completed asset recycling with $12.1 million gross proceeds from dispositions.
New Long-Term Lease with CHRISTUS Health
Secured a new 15-year triple-net lease with CHRISTUS Health at the Beaumont facility, replacing Steward Healthcare.
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GMRE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GMRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $9.00 | $8.74 | -2.89% |
| Aug 06, 2024 | $8.83 | $8.50 | -3.74% |
| May 07, 2024 | $7.89 | $8.17 | +3.55% |
| Feb 27, 2024 | $8.52 | $7.97 | -6.46% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Global Medical REIT (GMRE) report earnings?
Global Medical REIT (GMRE) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is Global Medical REIT (GMRE) earnings time?
Global Medical REIT (GMRE) earnings time is at Mar 04, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GMRE EPS forecast?
GMRE EPS forecast for the fiscal quarter 2024 (Q4) is $0.
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