Global Medical REIT Inc. (GMRE) stock price is fluctuating. On Monday, March 15, 2021, it went up 1.35% in the normal trading session but lost 8% in the extended trading session.
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Recent news about GMRE
Commencing Common Stock Public Offering
Today March 16, 2021 company announced to commence the underwritten public offeringof 7,500,000 shares of its common stock, par value $0.001 per share. Underwriters can buy additional 1,125,000 shares within extra 30 days. The GMRE wants to use the generated amount to pay the outstanding indebtedness under its credit facility, fund acquisitions, and other general corporate purposes.
On March 4, 2021, Global Medical REIT announced financial results for its fourth quarter and full-year ended December 31, 2020
Q4 financial highlights
- The GMRE net income was $1.1 million, or $0.02 per diluted share, for the reported quarter
- Total expenses for the fourth quarter were $22.3 million.
- G&A expenses were $4.4 million.
- The GMRE funds from Operations (“FFO”) was $0.22 per share, and Adjusted Funds from Operations (“AFFO”) was $0.24 per share
- total revenue period-over-period was increased to $24.9 million due to the company’s acquisition activity during 2020.
- GMRE also issued1.1 a million shares of common stock at a weighted average price of $14.21 per share
Full-year 2020 financial highlights
- GMRE suffered a net loss of $7.7 million, or $0.17 per diluted share
- The company FFO was $0.56 per share and unit, and AFFO was $0.88 per share.
- The entire year’s revenue was $93.7 million, with an increase of 32.5%,driven mainly by acquisitions completed in 2020.
About GMRE
Global Medical REIT Inc was founded in 2001, and its headquarter is in Maryland, United States. GMRE is a net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to robust healthcare systems and physician groups with leading market share.JEFFREY BUSCH is the CEO of the company. He also served as president and chairman of the company. Mr. Busch holds a B.A. from New York University in the Stern School of Business, a Masters of Public Administration from New York University, and a J.D. from Emory University. He has vast experience in the actual state sector and has worked in diverse fields.