GMRE - Global Medical: The Yield Is Not Too Good To Be True

2024-06-26 09:06:28 ET

Summary

• Global Medical's portfolio consists of 185 properties across 34 states, with strong rent coverage and tenant diversification.
• GMRE pays a high dividend yield of 9.53% and the payout ratio is 92.3%, but I think a dividend cut is unlikely.
• Demand for medical services is resilient and the REIT has manageable debt levels to take advantage of it in the long term.
• The shares are now trading at a significant discount to NAV, but the market has assigned a premium to it in the past.

Global Medical REIT Inc. ( GMRE ), incorporated in 2011 and headquartered in Bethesda, MD, mainly owns and manages net-lease off-campus medical office buildings across the country....

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