Global Medical REIT Inc.
31.07-0.05 (-0.16%)
Oct 29, 4:00:02 PM EDT · NYSE · GMRE · USD
Key Stats
Market Cap
846.07MP/E (TTM)
88.77Basic EPS (TTM)
0.35Dividend Yield
0.13%Recent Filings
8-K
GMRE extends debt maturities
Global Medical REIT Inc. amended its credit facility on October 8, 2025, extending the $400 million revolver's maturity to October 2029 with two six-month options to 2030, while restructuring the $350 million Term Loan A into $100 million maturing in 2029, $100 million in 2030, and $150 million in April 2031; it also eliminated the 0.10% SOFR credit spread adjustment. This bolsters liquidity and extends the weighted average debt maturity from 1.3 to 4.4 years, supporting acquisition funding amid stable healthcare demand. The $150 million Term Loan B matures unchanged in February 2028.
8-K
GMRE finishes reverse split
Global Medical REIT Inc. completed its one-for-five reverse stock split on September 19, 2025, converting every five common shares into one and slashing authorized shares from 500 million to 100 million. Shares outstanding dropped from 67,037,048 to about 13,407,409, with trading on a split-adjusted basis starting September 22 under the same NYSE ticker GMRE but a new CUSIP. Fractional shares get cash based on September 19's closing price. Ownership percentages hold steady, barring tiny shifts from cash-outs.
10-Q
Q2 FY2025 results
Global Medical REIT's Q2 FY2025 rental revenue climbed 10.8% y/y to $37.9M, fueled by a $69.6M five-property acquisition in February and April, though dispositions trimmed the gain; six-month revenue rose 4.6% y/y to $72.5M. Operating income dipped to $0.4M from $1.4M y/y amid higher G&A from executive transition costs and elevated interest at 4.09% on $713M debt, yet net income swung to $0.6M profit from a $2.0M loss, with diluted EPS at $(0.01) on 66,879 shares. Acquisitions added 487K sq ft, boosting the portfolio to 5.2M sq ft, while $34.4M operating cash flow supported $66M net Credit Facility draws; free cash flow hit $29.4M (derived). Liquidity stands firm with $6.6M cash and $177M revolver availability, but refinancing $350M Term Loan A due May 2026 looms amid sticky rates. Dividend cut to $0.15/share preserves balance sheet strength. Tenant defaults remain a persistent risk in volatile healthcare reimbursement.
8-K
Q2 AFFO rises; CEO appointed
Global Medical REIT reported Q2 2025 results with AFFO of $0.23 per share, up from $0.22 last year, driven by a $69.6 million five-property acquisition at 9.0% cap rate adding $6.3 million in annualized base rent. The company appointed Mark Decker, Jr. as CEO in June, while completing a $1.4 million property sale for a $0.2 million gain. Portfolio occupancy hit 94.5%, but leverage rose to 47.2%. It reaffirms 2025 AFFO guidance of $0.89–$0.93. Refinancing Term Loan A remains key amid its May 2026 maturity.
8-K
GMRE names new CEO Decker
Global Medical REIT Inc. appointed Mark O. Decker, Jr. as CEO and President effective June 23, 2025, succeeding Jeffrey M. Busch, who transitions to non-executive Chairman. Decker, 49, brings REIT leadership from Centerspace and investment expertise from Proterra and BMO Capital Markets. His three-year employment deal includes $700,000 base salary, 100% target bonus, $1M initial LTIP award, and $75,000 relocation aid. This shake-up aims to sharpen portfolio strategy, yet hinges on seamless integration.
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