Global Medical REIT Q1 2024 FFO $0.23 Beats $0.21 Estimate, Sales $35.069M Beat $33.938M Estimate
Portfolio Pulse from Benzinga Newsdesk
Global Medical REIT (NYSE:GMRE) reported Q1 2024 FFO of $0.23 per share, surpassing the $0.21 estimate, and sales of $35.069M, exceeding the $33.938M estimate. These results represent a 9.52% beat on FFO per share and a 3.33% beat on sales estimates, despite a 3.12% decrease in sales compared to the same period last year.
May 07, 2024 | 8:52 pm
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Global Medical REIT reported a strong Q1 2024 with FFO and sales beating estimates, indicating robust financial health despite a slight year-over-year sales decline.
Beating both FFO and sales estimates suggests operational efficiency and could lead to positive investor sentiment, potentially driving up the stock price in the short term. The slight year-over-year sales decline is a concern but seems offset by the overall positive earnings report.
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