Global Medical REIT: Cash Flow Tracking Lower Than 9.4% Dividend Yield
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Global Medical REIT's Q3-2024 results indicate flat rental revenue and AFFO. The bankruptcy of Steward Health Care resulted in a new lease with CHRISTUS Health. Concerns are raised about the sustainability of the high dividend yield, with a $10.00 price ceiling suggested.
November 11, 2024 | 3:00 am
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Global Medical REIT's Q3-2024 results show flat rental revenue and AFFO, with concerns about the sustainability of its 9.4% dividend yield. The bankruptcy of a major tenant, Steward Health Care, led to a new lease with CHRISTUS Health.
The flat rental revenue and AFFO, combined with the bankruptcy of a major tenant, raise concerns about the sustainability of the high dividend yield. The new lease with CHRISTUS Health may not fully offset the impact, and a $10.00 price ceiling suggests limited upside.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100