GLOBAL MED.REIT PFD A

Global Medical REIT has announced a guaranteed public offering of its cumulative, redeemable series B preferred shares, which are expected to be listed on the NYSE under the ticker GMRE-PrB. The joint bookrunners are Raymond James, BMO Capital Markets, Stifel and Baird; a 30-day over‑allotment option is included. Net proceeds are intended for general corporate purposes, including new acquisitions and repayment of indebtedness; the company most recently reported $723 million of debt and a current ratio of 1.91. In the third quarter, FFO and AFFO per share rose 4%, but core FFO of $1.00 remained below analysts’ estimates; Citizens nonetheless confirmed a Market Outperform rating with a $40.00 price target. » More on de.investing.com