24-May-2024
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Global Medical REIT Announces First Quarter 2024 Financial Results
Business Wire (Tue, 7-May 4:05 PM ET)
Global Medical REIT Inc. Announces Dates for First Quarter Earnings Release and Webcast
Business Wire (Tue, 23-Apr 4:15 PM ET)
Global Medical REIT Inc. Board Declares 2024 First Quarter Common and Preferred Dividends
Business Wire (Thu, 7-Mar 4:05 PM ET)
Global Medical REIT Inc is a Maryland corporation engaged predominantly in the acquisition of purpose-built healthcare facilities and the leasing of those facilities to physician groups and regional and national healthcare systems. The company's principal business objective is to provide attractive, risk-adjusted returns to its stockholders through a combination of reliable dividends and long-term capital appreciation. Its healthcare facilities are located in secondary markets and suburbs of primary markets and are typically leased to single-tenants under triple-net leases.
Global Medical REIT trades on the NYSE stock market under the symbol GMRE.
As of May 24, 2024, GMRE stock price climbed to $8.90 with 521,486 million shares trading.
GMRE has a beta of 1.08, meaning it tends to be more sensitive to market movements. GMRE has a correlation of 0.27 to the broad based SPY ETF.
GMRE has a market cap of $583.73 million. This is considered a Small Cap stock.
Last quarter Global Medical REIT reported $35 million in Revenue and $.23 earnings per share. This fell short of revenue expectation by $-151,000 and missed earnings estimates by -$.01.
In the last 3 years, GMRE stock traded as high as $18.51 and as low as $7.01.
The top ETF exchange traded funds that GMRE belongs to (by Net Assets): VNQ, VTI, IWM, KBWY, VXF.
GMRE has underperformed the market in the last year with a price return of +15.5% while the SPY ETF gained +30.4%. GMRE has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -3.5% and +0.1%, respectively, while the SPY returned +4.6% and +1.7%, respectively.
GMRE support price is $8.50 and resistance is $8.82 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that GMRE stock will trade within this expected range on the day.