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Global Medical REIT Inc (XRN)
NYSE:XRN
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Global Medical REIT
(NYSE:XRN)
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Rating:55Neutral
Price Target:
$34.00
▼(-6.70% Downside)
Action:ReiteratedDate:12/09/25
Global Medical REIT's overall score reflects significant financial challenges, particularly in profitability and cash flow, despite some positive developments in debt management and leasing activities. The high dividend yield and recent strategic initiatives provide some support, but the negative P/E ratio and profitability issues weigh heavily on the score.
Positive Factors
Strong Leasing and Occupancy
High occupancy rates indicate strong demand for GMRE's properties, ensuring stable rental income and reducing vacancy risks, which supports long-term revenue stability.
Debt Maturity Management
Extending debt maturities enhances financial flexibility and reduces refinancing risk, allowing GMRE to focus on strategic growth initiatives without immediate debt pressure.
Preferred Stock Offering
The preferred stock offering strengthens GMRE's financial structure, providing additional capital for operations and potential growth opportunities, enhancing long-term stability.
Negative Factors
Profitability Challenges
Negative profit margins highlight operational inefficiencies, which could hinder GMRE's ability to generate sustainable profits and affect long-term financial health.
Cash Flow Decline
Declining cash flow limits GMRE's ability to reinvest in properties and manage debt, potentially impacting long-term growth and financial resilience.
High Payout Ratio
A high payout ratio limits financial flexibility and could constrain GMRE's ability to invest in growth opportunities, posing a risk to future dividend sustainability.
Global Medical REIT (XRN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$527.49M
Dividend Yield10.01%
Average Volume (3M)71.78K
Price to Earnings (P/E)―
Beta (1Y)0.58
Revenue Growth2.73%
EPS Growth-131.16%
CountryUS
Employees26
SectorReal Estate
Sector Strength53
IndustryREIT - Industrial
Share Statistics
EPS (TTM)-0.55
Shares Outstanding13,407,358
10 Day Avg. Volume80,279
30 Day Avg. Volume71,781
Financial Highlights & Ratios
PEG Ratio-0.16
Price to Book (P/B)0.19
Price to Sales (P/S)0.74
P/FCF Ratio-4.06
Enterprise Value/Market Cap2.11
Enterprise Value/Revenue7.21
Enterprise Value/Gross Profit31.67
Enterprise Value/Ebitda11.03
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.06
Revenue Forecast (FY)$151.00M
Global Medical REIT Business Overview & Revenue Model
Company DescriptionGlobal Medical REIT, Inc. engages in the acquisition of purpose-built healthcare facilities and the leasing of those properties to healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
How the Company Makes MoneyGlobal Medical REIT generates revenue primarily through long-term leases with healthcare operators. The company acquires properties that are typically leased on a triple-net basis, meaning that tenants are responsible for property taxes, insurance, and maintenance costs, which minimizes the operating expenses for GMRE. This structure allows GMRE to earn rental income that is largely predictable and stable. Additionally, GMRE may benefit from property appreciation and increased rental rates over time as demand for healthcare services grows. Strategic partnerships with healthcare providers can also enhance its portfolio by acquiring high-quality properties that are well-positioned in the market, contributing to both occupancy rates and rental income.
Global Medical REIT Key Performance Indicators (KPIs)
Global Medical REIT Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call presented a balanced but constructive tone: management outlined clear strategic initiatives (portfolio review, leadership appointment, disciplined capital recycling, and diversification into senior housing) and provided concrete near-term metrics and guidance. Operational performance showed strength with same-store NOI expansion and reduced leverage, and the company secured liquidity runway with no debt maturities before 2028. Notable risks remain — a challenging medical office macro environment, short-term EBIT/FFO headwinds from balance sheet actions ($0.36 of guidance impact), potential earnings dilution during disposition/redevelopment timing, and execution/operational risks as Chiron enters senior housing. Overall, positives (measurable financial improvements, strategic clarity, new investment pipeline) outweigh the manageable challenges described by management.Q4-2025 Updates
Positive Updates
FFO and Core FFO Results
NAREIT-defined FFO per share and unit of $0.97 for the quarter; Core FFO (previously AFFO) of $1.16 per share and unit.
Same-Store NOI Growth
Same-store cash NOI increased 5.4% year-over-year and 2.9% sequentially, showing healthy operating performance across assets owned at least 15 months.
Balance Sheet Fortification
No debt maturing before 2028 after recent capital markets actions; net debt to adjusted EBITDA REIT improved to 6.2x, a reduction of 0.7x from the prior period.
Dividend and Shareholder Return Actions
Transition to a monthly dividend frequency with no change to the annual $3 per share rate; repurchased stock using proceeds from a $10 million sale in a leverage-neutral manner.
Proactive Portfolio Management and Leadership Moves
Comprehensive portfolio review and a strategic re-write of the playbook; appointed Alex Wilburn as Portfolio Manager to drive capital allocation and active asset management.
Initial 2026 Guidance
Provided 2026 core FFO guidance range of $4.30 to $4.45 per share/unit (which excludes speculative acquisitions/dispositions), conveying forward-looking expectations.
Strategic Diversification into Senior Housing
Announced intent to invest in active adult and senior housing; closed a 49% interest in a Minneapolis active adult development (expected delivery 2027) with a projected stabilized double-digit unlevered IRR and established an attractive pipeline sourced off-market.
Identified Disposition Pipeline
Identified approximately $250 million of prospective dispositions (likely IRF assets and Beaumont Surgical Hospital), with management expecting proceeds meaningfully above basis to recycle into higher-return opportunities.
Negative Updates
Medical Office Sector Headwinds
Management acknowledged a prolonged bear market for medical office driven largely by higher interest rates; they expect a possible new normal of ~4% 10-year Treasury and modest rent growth of 2%–3%, which can be sub-inflationary.
Guidance Impacted by Balance Sheet Actions
2026 core FFO guidance includes an anticipated $0.36 per share headwind tied to balance sheet fortification actions taken in the prior period, reducing near-term earnings upside.
Earnings Drag Risk from Capital Recycling and Development
Management expects potential dilution and earnings drag during disposition and redeployment periods (selling legacy MOB assets and funding development investments), and execution timing is uncertain.
Operational and Execution Risk in Senior Housing
Senior housing is a new, operationally intensive line of business for Chiron; management highlighted staffing, operating intensity, partner selection risk, and the possibility of mistakes as they scale.
Tenant/Operator Stress at Specific Assets
White Rock operator is involved in a bankruptcy-related process (though currently current on payments); Prospect/East Orange still has vacancy/negative NOI exposure from prior Steward disruptions — unresolved upside is still to come.
Small Asset Sale Highlights Prior Challenges
Sold an early-vintage, poorly positioned medical office for $10 million (asset required outsized execution risk and capital to stabilize), highlighting legacy portfolio pruning needs.
Potential Capital Structure Tradeoffs
Recent preferred equity issuance helped reduce leverage metrics but may imply higher cost of capital or future distribution obligations versus straight debt — referenced as part of balance sheet changes.
Company Guidance
Chiron set initial 2026 core FFO guidance of $4.30–$4.45 per share/unit (including an estimated $0.36 headwind from prior-year balance‑sheet fortification and excluding any speculative M&A), after reporting Q4 NAREIT‑defined FFO of $0.97 and quarter‑level core FFO of $1.16 per share/unit; net debt to adjusted EBITDA (REIT) was 6.2x (down 0.7x), same‑store cash NOI rose 5.4% year‑over‑year and 2.9% sequentially, and the company now has no debt maturing before 2028. The board approved a switch to a monthly dividend with the annual rate unchanged at $3.00 per share, and management said it has identified roughly $250 million of prospective dispositions, sold an early‑vintage MOB for $10 million (using proceeds to repurchase stock in a leverage‑neutral manner), and holds a 49% interest in an active‑adult development expected to deliver in 2027 with a stabilized double‑digit unlevered IRR.Global Medical REIT Financial Statement Overview
Summary
Global Medical REIT faces profitability and cash flow challenges despite moderate revenue growth. Negative net profit margins and declining cash flow metrics suggest operational inefficiencies and financial instability.Income Statement
The income statement shows moderate revenue growth with a 4.51% increase in TTM. However, the net profit margin is negative at -1.29%, indicating profitability challenges. Gross profit margin has decreased significantly from previous years, suggesting increased cost pressures. EBIT and EBITDA margins have also declined, reflecting reduced operational efficiency.45
Neutral
Balance Sheet
The balance sheet reveals a stable equity ratio, but the debt-to-equity ratio has improved to 1.50, indicating a reduction in leverage. Return on equity is negative, highlighting profitability issues. The company maintains a reasonable equity ratio, suggesting a balanced asset structure.55
Neutral
Cash Flow
Cash flow analysis shows a significant decline in free cash flow growth, with a negative growth rate of -135.51% in TTM. The operating cash flow to net income ratio is not calculable due to negative net income, and free cash flow to net income ratio is negative, indicating cash flow challenges.40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 154.66M | 138.41M | 140.93M | 137.17M | 115.80M | 93.52M |
| Gross Profit | 35.19M | 109.16M | 112.85M | 111.98M | 100.32M | 82.65M |
| EBITDA | 101.04M | 91.47M | 111.64M | 102.89M | 85.35M | 53.00M |
| Net Income | 2.50M | 6.63M | 20.61M | 19.14M | 17.62M | -1.93M |
Balance Sheet | ||||||
| Total Assets | 1.27B | 1.26B | 1.27B | 1.39B | 1.26B | 1.10B |
| Cash, Cash Equivalents and Short-Term Investments | 10.39M | 6.82M | 1.28M | 4.02M | 7.21M | 5.51M |
| Total Debt | 747.40M | 653.59M | 624.19M | 704.65M | 579.86M | 607.62M |
| Total Liabilities | 767.41M | 700.57M | 661.89M | 744.20M | 625.91M | 643.15M |
| Stockholders Equity | 485.29M | 534.13M | 583.58M | 632.98M | 622.78M | 444.81M |
Cash Flow | ||||||
| Free Cash Flow | 18.63M | -25.07M | 58.39M | -79.66M | -132.69M | -184.27M |
| Operating Cash Flow | 72.50M | 70.05M | 68.44M | 76.54M | 68.97M | 34.52M |
| Investing Cash Flow | -86.67M | -45.94M | 67.62M | -137.25M | -194.66M | -223.67M |
| Financing Cash Flow | 16.23M | -21.89M | -143.79M | 62.41M | 127.70M | 192.72M |
Global Medical REIT Technical Analysis
Positive
36.44
Price Trends
35.21
Positive
33.36
Positive
33.05
Positive
Market Momentum
0.40
Positive
57.84
Neutral
53.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For XRN, the sentiment is Positive. The current price of 36.44 is above the 20-day moving average (MA) of 36.03, above the 50-day MA of 35.21, and above the 200-day MA of 33.05, indicating a bullish trend. The MACD of 0.40 indicates Positive momentum. The RSI at 57.84 is Neutral, neither overbought nor oversold. The STOCH value of 53.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for XRN.
Global Medical REIT Risk Analysis
Global Medical REIT disclosed 67 risk factors in its most recent earnings report. Global Medical REIT reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Global Medical REIT Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $161.51M | 20.63 | 50.04% | 4.62% | 29.76% | 22.76% | |
73 Outperform | $1.41B | 42.76 | 0.72% | 6.98% | 3.74% | 77.82% | |
66 Neutral | $479.15M | 216.67 | 0.46% | 12.08% | 3.40% | -240.85% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
64 Neutral | $604.33M | 33.63 | 10.55% | 7.51% | 0.68% | -1.34% | |
55 Neutral | $527.49M | -150.12 | -1.12% | 10.01% | 2.73% | -131.16% | |
54 Neutral | $1.48B | ― | -15.78% | 0.80% | 4.10% | 8.96% |
* Real Estate Sector Average
XRN
Global Medical REIT
34.63
-5.48
-13.66%
DHC
Diversified Healthcare Trust
6.76
3.96
141.69%
CHCT
Community Healthcare
17.09
0.48
2.90%
UHT
Universal Health Realty Income
43.62
6.49
17.48%
STRW
Strawberry Fields REIT Inc
12.80
1.64
14.70%
SILA
Sila Realty Trust, Inc.
25.73
1.89
7.93%
Global Medical REIT Corporate Events
Executive/Board ChangesShareholder Meetings
Global Medical REIT Director Ronald Marston to Retire
Neutral
Dec 4, 2025
On December 3, 2025, Ronald Marston announced his intention to retire as a director of Global Medical REIT Inc., effective at the company’s 2026 Annual Meeting of Stockholders. His retirement is not due to any disagreements with the company’s operations or policies, marking a planned transition in the board’s composition.
The most recent analyst rating on (GMRE) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Global Medical REIT stock, see the GMRE Stock Forecast page.
Business Operations and StrategyPrivate Placements and Financing
Global Medical REIT Announces Preferred Stock Offering
Positive
Nov 18, 2025
On November 13, 2025, Global Medical REIT Inc. and its operating partnership entered into an Underwriting Agreement with several underwriters for the issuance and sale of 2,000,000 shares of its 8.00% Series B cumulative redeemable preferred stock, with an option for an additional 300,000 shares. The offering is expected to close on November 20, 2025, with proceeds intended to be contributed to the operating partnership. Additionally, the company amended its Agreement of Limited Partnership to accommodate the issuance of Series B Preferred Units, mirroring the terms of the preferred stock. This strategic move is aimed at strengthening the company’s financial structure and enhancing its market position.
The most recent analyst rating on (GMRE) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Global Medical REIT stock, see the GMRE Stock Forecast page.
Financial Disclosures
Global Medical REIT Reports Q3 2025 Net Loss
Negative
Nov 13, 2025
On November 4, 2025, Global Medical REIT Inc. reported a net loss of approximately $6.0 million for the third quarter of 2025, a significant decline from the net income of $1.8 million in the same period the previous year. The company’s portfolio, as of September 30, 2025, was 95.2% occupied, with a weighted average lease term of 5.3 years, indicating stable occupancy levels despite the financial loss, which could impact investor confidence and the company’s market positioning.
The most recent analyst rating on (GMRE) stock is a Hold with a $33.00 price target. To see the full list of analyst forecasts on Global Medical REIT stock, see the GMRE Stock Forecast page.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.