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Global Medical REIT (GMRE)
NYSE:GMRE
Earnings Data
Report Date
Apr 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.01Last 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:Feb 27, 2025
|% Change Since: 2.42%
|Next Earnings Date:Apr 30, 2025
Earnings Call Sentiment|Neutral
The call highlighted strong portfolio performance with significant acquisitions and successful joint venture formation, but also noted challenges such as a reduction in FFO due to severance costs, a major tenant bankruptcy, and increased expenses. Despite the positive achievements, these challenges cannot be overlooked.Company Guidance
During Global Medical REIT's fourth quarter 2024 earnings call, the company provided several key financial metrics and strategic updates. The portfolio maintained a high occupancy rate of 96.4% with a weighted average lease term of 5.6 years and a rent coverage ratio of 4.5 times. The net income attributable to common shareholders for the quarter was $1.4 million, or $0.02 per share, a turnaround from a net loss in the same quarter of the previous year. Funds from operations (FFO) and adjusted funds from operations (AFFO) per share were $0.15 and $0.22, respectively, reflecting impacts from $3.2 million in severance-related costs. The company completed acquisitions totaling $80.3 million at an 8% cap rate and $69.6 million at a 9% cap rate. Dispositions generated $40.5 million in gross proceeds with a gain of $5.8 million. The balance sheet showed gross real estate investments of $1.5 billion and total gross debt of $651 million, with 79% being fixed-rate. The 2025 AFFO per share is projected to be between $0.89 and $0.93, excluding one-time CEO succession expenses. The guidance assumes no further acquisition or disposition activity beyond what has already been announced.Strong Portfolio Performance
Portfolio occupancy was 96.4% with a weighted average lease term of 5.6 years and a rent coverage ratio of 4.5 times.
Significant Acquisition Activity
Completed the acquisition of a 15-property portfolio for $80.3 million and entered into another purchase agreement for five properties for $69.6 million at a 9% cap rate.
Successful Dispositions
Generated $40.5 million in gross proceeds from the sale of four medical facilities, resulting in a gain of $5.8 million.
Heitman Joint Venture
Formed a joint venture with Heitman, contributing two properties and maintaining a 12.5% ownership stake.
Revenue Growth
Total revenues for Q4 2024 increased by 6.7% compared to the prior year, reaching $35.2 million.
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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 |
|---|---|---|---|
| Feb 27, 2025 | $8.28 | $8.59 | +3.74% |
| Nov 06, 2024 | $8.79 | $8.53 | -2.96% |
| Aug 06, 2024 | $8.62 | $8.30 | -3.71% |
| May 07, 2024 | $7.70 | $7.97 | +3.51% |
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 Apr 30, 2025, TBA Not Confirmed.
What is Global Medical REIT (GMRE) earnings time?
Global Medical REIT (GMRE) earnings time is at Apr 30, 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 2025 (Q1) is 0.01.
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