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GMRE

Global Medical REIT Inc.

GMRE

Global Medical REIT Inc. • NYSE
$33.17 ▼ -0.39% (-0.13)
Market Cap $443.74 M
52w High $45.75
52w Low $29.05
Dividend Yield 3.60%
P/E -127.58
Volume 63.32K
Outstanding Shares 13.38M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $40.562M ▲ $4.86M ▼ $-4.546M ▼ -11.208% ▼ $-0.37 ▼ $9.95M ▼
Q2-2025 $37.88M ▲ $21.316M ▲ $655K ▼ 1.729% ▼ $-0.3 ▼ $23.885M ▼
Q1-2025 $34.595M ▼ $17.447M ▼ $3.559M ▲ 10.288% ▲ $0.787 ▲ $24.95M ▲
Q4-2024 $34.952M ▲ $21.346M ▲ $2.83M ▼ 8.097% ▼ $0.515 ▼ $24.404M ▼
Q3-2024 $34.175M $18.023M $3.246M 9.498% $0.68 $24.447M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $7.123M ▲ $1.273B ▼ $767.41M ▼ $485.289M ▼
Q2-2025 $6.58M ▲ $1.297B ▲ $771.938M ▲ $503.202M ▼
Q1-2025 $5.412M ▼ $1.27B ▲ $731.452M ▲ $517.352M ▼
Q4-2024 $6.815M ▲ $1.256B ▲ $700.57M ▲ $534.126M ▼
Q3-2024 $5.723M $1.243B $677.989M $542.552M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.058M ▼ $17.566M ▼ $-703K ▲ $-16.249M ▼ $614K ▼ $92.61M ▲
Q2-2025 $585K ▼ $22.139M ▲ $-39.225M ▼ $18.724M ▲ $1.638M ▲ $-18.316M ▲
Q1-2025 $3.559M ▲ $12.272M ▼ $-27.224M ▼ $13.598M ▲ $-1.354M ▼ $-22.317M ▲
Q4-2024 $2.939M ▼ $20.523M ▲ $-19.523M ▲ $153K ▼ $1.153M ▲ $-33.345M ▼
Q3-2024 $3.196M $16.302M $-25.488M $9.157M $-29K $21.508M

Five-Year Company Overview

Income Statement

Income Statement GMRE’s revenue has grown from a smaller base and then leveled off in recent years, suggesting the portfolio has reached a more mature, steady-rent phase rather than rapid expansion. Profitability at the property level looks solid, with healthy gross and operating margins for a REIT, but net income has been thin and occasionally negative, reflecting interest costs, depreciation, and other overhead. Earnings have swung around over the five‑year period, which is not unusual for a smaller REIT and is also influenced by share count changes and non‑cash accounting items. Overall, the income statement points to a stable rental engine but only modest bottom‑line profits, with little cushion if conditions worsen.

Balance Sheet

Balance Sheet The balance sheet shows a relatively stable asset base, built mainly around income‑producing healthcare properties, with no sign of extreme expansion or contraction in recent years. Debt sits at a meaningful level relative to equity, which is typical for REITs but still means results are quite sensitive to interest rates and credit conditions. Equity has grown over time, indicating that retained earnings and past capital raises have built a larger ownership base in the portfolio. Cash on hand is quite low, again common for REITs, implying ongoing reliance on credit lines and capital markets to fund new deals and support the dividend.

Cash Flow

Cash Flow Operating cash flow has been steady and reasonably robust, which is what matters most for a REIT that lives on rental income and lease payments. Free cash flow has been choppy and often negative because the company has continued to invest in new properties and improvements, with capital spending absorbing much of the cash generated. This pattern signals a growth‑oriented mindset: using outside capital and retained cash to expand the portfolio, rather than maximizing near‑term cash surplus. The key trade‑off is that future income potential improves when investments are well chosen, but short‑term financial flexibility is tighter and more exposed to funding markets.

Competitive Edge

Competitive Edge GMRE operates in a focused niche: licensed medical and treatment facilities, often in secondary markets and mid‑sized deal sizes that many large healthcare REITs overlook. Its model is built around long‑term, triple‑net leases to relatively strong healthcare systems and physician groups, which tends to produce stable, predictable rent and reduces direct operating risk. This specialization, along with relationships and knowledge of local operators, forms a practical competitive moat—though it comes with concentration risk in healthcare real estate and dependence on the financial health of a limited set of tenants and markets. Compared with much larger diversified peers, GMRE has less scale and less balance sheet flexibility, but potentially more agility in its chosen slice of the market.

Innovation and R&D

Innovation and R&D As a REIT, GMRE does not innovate through traditional R&D spending, but rather through how it structures deals and designs its portfolio. Its “innovation” is strategic: focusing on purpose‑built, off‑campus medical facilities that match long‑term healthcare trends toward outpatient and community‑based care. The company positions itself as a flexible capital partner, helping operators monetize real estate and reinvest in their clinical business, including technology upgrades within the facilities GMRE owns. It is also leaning into ESG and sustainability frameworks, which can support long‑term relationships with health systems and may improve the attractiveness and resilience of its properties over time.

Summary

GMRE presents as a niche healthcare REIT with a stable rental base, decent property‑level economics, and modest but uneven net profits. The balance sheet is fairly typical for the sector—meaningful leverage, low cash, and a reliance on continued access to credit and equity markets to fund growth. Cash flows from operations are steady, while free cash flow is constrained by ongoing investment, underscoring a growth‑through‑acquisitions mindset rather than a cash‑harvest model. Strategically, its focus on smaller, specialized healthcare facilities and long‑term leases to strong operators provides a real competitive edge, but also ties its fate closely to healthcare utilization, reimbursement dynamics, and interest rates. Overall, the story is one of a focused, relationship‑driven healthcare landlord with stable core operations, balanced by financial leverage and the usual REIT exposure to capital market conditions and policy trends.

NEWS

November 13, 2025 · 10:30 PM UTC

Global Medical REIT Inc. Announces Pricing of Public Offering of 8.00% Series B Preferred Stock

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November 13, 2025 · 8:39 AM UTC

Global Medical REIT Inc. Announces Proposed Public Offering of Series B Preferred Stock

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November 4, 2025 · 4:05 PM UTC

Global Medical REIT Announces Third Quarter 2025 Financial Results

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October 15, 2025 · 4:05 PM UTC

Global Medical REIT Inc. Announces Dates for 2025 Third Quarter Earnings Release and Webcast

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October 8, 2025 · 4:05 PM UTC

Global Medical REIT Inc. Amends and Restates Credit Facility

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