Core Viewpoint - Global Medical REIT (GMRE) reported quarterly funds from operations (FFO) of $0.22 per share, missing the Zacks Consensus Estimate of $0.23 per share, representing a -4.35% surprise [1] Financial Performance - The company posted revenues of $34.26 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 1.77%, compared to year-ago revenues of $35.51 million [2] - Over the last four quarters, GMRE has not surpassed consensus FFO or revenue estimates [2] Stock Performance - GMRE shares have declined approximately 16.9% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The current consensus FFO estimate for the coming quarter is $0.23 on revenues of $35.65 million, and for the current fiscal year, it is $0.92 on revenues of $139.89 million [7] Industry Outlook - The Zacks Industry Rank for REIT and Equity Trust - Other is currently in the top 24% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8]

Financial Performance - Net income attributable to common stockholders for Q3 2024 was $1.8 million, or $0.03 per diluted share, down from $3.1 million, or $0.05 per diluted share in Q3 2023[4] - Total revenue for the three months ended September 30, 2024, was $34,264, a decrease of 3.5% from $35,507 in the same period of 2023[32] - Net income attributable to common stockholders for the three months ended September 30, 2024, was $1,791, a decrease of 42.9% from $3,138 in the same period of 2023[32] - Net income for the three months ended September 2024 was $3,391,000, a decrease of 29.9% compared to $4,833,000 for the same period in 2023[33] - FFO attributable to common stockholders for the three months ended September 2024 was $13,731,000, down 10.0% from $15,250,000 in the prior year[33] - AFFO attributable to common stockholders for the three months ended September 2024 was $15,345,000, a decrease of 7.2% compared to $16,541,000 in the same quarter of 2023[33] Revenue and Occupancy - Rental revenue for Q3 2024 decreased by 3.7% year-over-year to $34.2 million, primarily due to changes in the Company's portfolio and reduced occupancy[6] - Rental revenue for the nine months ended September 30, 2024, was $103,458, down 4.9% from $108,003 in the same period of 2023[32] - Portfolio leased occupancy was 96.1% as of September 30, 2024, with an annualized base rent of $107.8 million across 4.8 million leasable square feet[14] Acquisitions and Dispositions - The Company completed $80.3 million in acquisitions of single tenant triple net medical real estate year-to-date, with an annualized base rent of $6.4 million across 254,220 leasable square feet[3] - The Company sold two medical facilities in Q3 2024, generating gross proceeds of $12.1 million, resulting in a total loss of $1.6 million on these dispositions[12] - In October 2024, the Company entered into a purchase agreement to acquire a five-property portfolio for $69.6 million at a cap rate of 9.0%[13] Debt and Liabilities - Total debt outstanding as of September 30, 2024, was $628.9 million, with a leverage ratio of 44.1% and a weighted average interest rate of 3.79%[15] - Total liabilities increased to $677,989 as of September 30, 2024, from $661,886 as of December 31, 2023[31] Cash and Assets - Cash and cash equivalents increased to $5,723 as of September 30, 2024, from $1,278 as of December 31, 2023[30] - The company's total assets as of September 30, 2024, were $1,242,595, a decrease from $1,267,700 as of December 31, 2023[30] Expenses - The company reported a depreciation expense of $30,233 for the nine months ended September 30, 2024, compared to $31,062 in the same period of 2023[32] - Interest expense for the three months ended September 2024 was $7,236,000, slightly up from $7,170,000 in the prior year[34] - Depreciation and amortization expense for the three months ended September 2024 was $13,642,000, a decrease from $14,195,000 in the same period of 2023[34] Dividends - The Board declared a cash dividend of $0.21 per share to common stockholders for Q3 2024, paid on October 8, 2024[17] Key Metrics - Management considers EBITDAre and Adjusted EBITDAre important measures for evaluating core operating results and debt servicing ability[25] - The Rent Coverage Ratio calculation excluded approximately 19% of the portfolio due to lack of available financial information or small tenant size[26] - The capitalization rate for acquisitions is calculated by dividing current Annualized Base Rent by contractual purchase price[28] - The weighted average shares and units outstanding for the three months ended September 2024 was 71,151,000, an increase from 70,566,000 in the prior year[33] - Preferred stock dividends remained constant at $1,455,000 for both the three months ended September 2024 and 2023[33]

Core Viewpoint - Investors should consider Global Medical REIT (GMRE) and CubeSmart (CUBE) for potential value opportunities in the REIT and Equity Trust - Other sector [1] Group 1: Zacks Rank and Earnings Outlook - GMRE has a Zacks Rank of 2 (Buy), indicating a positive earnings outlook, while CUBE has a Zacks Rank of 3 (Hold) [3] - The Zacks Rank focuses on companies with positive earnings estimate revisions, suggesting GMRE is likely experiencing a more favorable earnings outlook [3] Group 2: Valuation Metrics - GMRE has a forward P/E ratio of 10.07, significantly lower than CUBE's forward P/E of 18.86 [5] - GMRE's PEG ratio is 1.26, while CUBE's PEG ratio is much higher at 9.11, indicating GMRE may be undervalued relative to its growth expectations [5] - GMRE's P/B ratio stands at 1.20, compared to CUBE's P/B of 4.02, further supporting GMRE's valuation advantage [6] Group 3: Value Grades - GMRE has earned a Value grade of B, while CUBE has received a Value grade of F, highlighting GMRE's superior valuation metrics [6] - Overall, GMRE is positioned as the better value option based on its solid earnings outlook and favorable valuation figures [7]

Core Viewpoint - Investors in the REIT and Equity Trust - Other sector should consider Global Medical REIT (GMRE) and COPT Defense (CDP) as potential value opportunities [1] Valuation Metrics - GMRE has a forward P/E ratio of 10.80, while CDP has a forward P/E of 11.85 [5] - GMRE's PEG ratio is 1.35, indicating a better expected earnings growth rate compared to CDP's PEG ratio of 2.64 [5] - GMRE's P/B ratio is 1.29, compared to CDP's P/B of 2.24, suggesting GMRE is more undervalued relative to its book value [6] Investment Grades - Both GMRE and CDP currently hold a Zacks Rank of 2 (Buy), indicating a positive earnings outlook due to favorable analyst estimate revisions [3] - GMRE has a Value grade of B, while CDP has a Value grade of C, suggesting GMRE is the superior value option based on valuation metrics [6]

Group 1 - Falling interest rates positively impact REITs, which are sensitive to changes in financing costs [1] - REITs are characterized as duration-loaded assets, benefiting from both declining and rising financing levels [1] Group 2 - Roberts Berzins has over ten years of experience in financial management, focusing on corporate financial strategies and large-scale financings [2] - He has contributed to institutionalizing the REIT framework in Latvia to enhance liquidity in pan-Baltic capital markets [2] - Berzins has also worked on developing national SOE financing guidelines and frameworks for private capital in affordable housing [2]

Core Insights - The article compares Global Medical REIT (GMRE) and COPT Defense (CDP) to determine which stock offers better value for investors [1] Valuation Metrics - Both GMRE and CDP currently hold a Zacks Rank of 2 (Buy), indicating positive revisions to their earnings estimates and improving earnings outlooks [3] - GMRE has a forward P/E ratio of 9.99, while CDP has a forward P/E of 11.33, suggesting GMRE may be undervalued compared to CDP [5] - GMRE's PEG ratio is 1.25, indicating a more favorable growth outlook compared to CDP's PEG ratio of 2.76 [5] - GMRE's P/B ratio stands at 1.19, while CDP's P/B ratio is 2.14, further supporting GMRE as the more attractive value option [6] - Based on these valuation metrics, GMRE has earned a Value grade of B, whereas CDP has a Value grade of C, reinforcing GMRE's position as the superior value stock [6]

Investors interested in stocks from the REIT and Equity Trust - Other sector have probably already heard of Global Medical REIT (GMRE) and COPT Defense (CDP) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look. We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank emphasizes companies with positive estim ...

shaunl I have been covering Slate Grocery REIT (OTC:SRRTF) since mid 2023, by issuing multiple bull thesis arguing why investors should adding this REIT into their portfolios. The main elements of the thesis here are the dirt cheap multiple (e.g., P/AFFO multiple of 9.3x), high dividend yield and strong underlying fundamentals, which are subject to decent organic growth. The cheapness stems from the fact that Slate is still trading at a significant discount to its closest retail peers both in the freestandi ...

Global Medical REIT (GMRE) came out with quarterly funds from operations (FFO) of $0.22 per share, in line with the Zacks Consensus Estimate. This compares to FFO of $0.23 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this real estate investment trust would post FFO of $0.24 per share when it actually produced FFO of $0.23, delivering a surprise of -4.17%. Over the last four quarters, the company has not been able to surpass consensus FFO estim ...

Sure, mega-caps dealing in artificial intelligence have done a lot of the lifting, but a lot of boats have been lifted by the rising tide. In fact, investors have bid up 10 of the market's 11 sectors as of June 24. Contrarian Outlook Real estate was clobbered as the Federal Reserve started hiking rates at the start of 2022, and the beatings continued until a few months after the Fed's final hike in July 2023. The sector started to bounce near the end of last year as every pundit predicted a gaggle of rate h ...