Global Medical REIT Q4 2023 FFO $0.23 Beats $0.22 Estimate, Sales $32.93M Miss $35.64M Estimate
Portfolio Pulse from Benzinga Newsdesk
Global Medical REIT (GMRE) reported Q4 2023 FFO of $0.23 per share, surpassing the $0.22 estimate. However, their sales of $32.93M fell short of the $35.64M estimate, marking a 9.26% decrease from the previous year.
February 27, 2024 | 9:25 pm
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Global Medical REIT's Q4 2023 earnings surpassed estimates with FFO of $0.23/share, but sales missed expectations at $32.93M, a 9.26% YOY decrease.
While GMRE's FFO beat estimates, indicating operational efficiency and potentially positive investor sentiment, the miss on sales forecasts and the year-over-year decrease could raise concerns about revenue growth and market demand. The mixed results present a neutral outlook in the short term as positive earnings are offset by revenue concerns.
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