SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Value Investing

 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: E_K_S who wrote (77947)8/20/2025 8:08:58 PM
From: E_K_S   of 78505
 
Comparing GMRC to Other Healthcare REITS

Page -39- July 2025 Nareit news letter w/ metrics on Health Care REITs

Global Medical REIT (GMRE) has a market capitalization of approximately $430 - $485 million (as of August 2025) and is projected to have an FFO per share for 2025 in the range of $0.89 - $0.93. Its focus is on licensed, state-of-the-art, purpose-built healthcare facilities.

Here are 4 healthcare REITs that are relatively similar to GMRE in their focus on healthcare real estate, while acknowledging that their market caps and specific FFO multiples might vary considerably:

(NOTE: Have owned OHI & DOC; done well w/ OHI +30% but little to no gains in DOC)
  1. CareTrust REIT, Inc. (CTRE)

    • Focus: CTRE primarily invests in, acquires, and leases healthcare-related properties, with a significant portion of its portfolio in skilled nursing facilities, multi-service senior housing, and other healthcare properties. Like GMRE, it utilizes a triple-net lease structure.

    • Market Cap (approx. August 2025): Around $6.6 billion.

    • FFO per share (2025 estimates): While specific 2025 FFO/share estimates for CTRE are not directly available in the search results, it's a smaller-to-mid-cap player compared to the industry giants, making it more comparable in scale to GMRE than, say, Welltower or Ventas.

  2. National Health Investors, Inc. (NHI)

    • Focus: NHI invests in healthcare facilities, including skilled nursing facilities, senior housing, and medical office buildings. They also primarily operate under triple-net leases.

    • Market Cap (approx. August 2025): Around $3.5 - $3.6 billion.

    • FFO per share (2025 guidance): NHI is updating its 2025 Normalized FFO per diluted common share guidance to a range of $4.78 - $4.82.

  3. Omega Healthcare Investors, Inc. (OHI)

    • Focus: OHI is a significant player in the skilled nursing facility (SNF) and assisted living facility (ALF) sectors, primarily through triple-net leases. While larger than GMRE, its focus on specific healthcare subsectors makes it comparable in terms of specialized property types.

    • Market Cap (approx. August 2025): Around $11.9 billion.

    • FFO per share (2025 guidance): OHI raised its full-year 2025 core FFO guidance to a range of $3.04 - $3.07 per share.

  4. Physicians Realty Trust (DOC) - Now Healthpeak Properties (PEAK)

    • Focus: Physicians Realty Trust (DOC) merged with Healthpeak Properties (PEAK). Healthpeak Properties now has a more diversified healthcare portfolio, including medical office buildings, life science properties, and senior housing. While now a larger entity, the "DOC" component before the merger was more directly comparable to GMRE's medical office building focus.

    • Market Cap (Healthpeak Properties, approx. August 2025): Around $11.8 - $11.9 billion.

    • FFO per share (Healthpeak Properties 2025 guidance): Healthpeak Properties is reaffirming its 2025 diluted FFO as Adjusted per share guidance of $1.81 – $1.87.

Important Considerations for Comparison:

  • Scale: While these REITs are in the healthcare sector, GMRE is a smaller player compared to many of the large-cap healthcare REITs like Welltower (WELL) or Ventas (VTR), which have market caps in the tens of billions. The REITs listed above are more in the small to mid-cap range, making them somewhat more comparable to GMRE in terms of absolute size.

  • Sub-sector Specialization: Each healthcare REIT has a slightly different emphasis (e.g., skilled nursing, medical office, life science, senior housing). While GMRE focuses on "purpose-built healthcare facilities," understanding the specific property types of other REITs is crucial for a direct comparison.

  • FFO Multiples: Calculating a precise Price/FFO multiple for future years requires current stock prices and confirmed FFO estimates, which can fluctuate. The FFO per share provided here are estimates and guidance. Investors should perform their own due diligence to get the most up-to-date figures.

Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext