Global Medical REIT (GMRE) began the year trading just over the $13.00/share range, and early in the first quarter, 2020 was trading over $15.00/share. More recently, it is trading in the $9.50/share range and reflects a (-40%) year-to-date decline in value. Global Medical REIT is headquartered in Bethesda, MD, and it focuses on healthcare facilities leased to healthcare systems and physician groups.
The First quarter 2020 earnings call for GMRE revealed that there was a relatively good first quarter, and management is working with tenants in financial distress currently while predicting a quick rebound post-COVID-19, while also acknowledging Covid-19 impact and issues are still unfolding and uncertain such that it is too difficult to assess the impact on operations honestly.
The CFO acknowledged that some tenants are seeing substantial reductions in elective procedures and patient volumes due to Covid-19. Thus far, they estimate this has some impact on rental revenue over the next couple of months, but note a lack of clarity going into the second quarter and the rest of 2020 as well as the potential for longer-term impact associated with Covid-19.
What Should Global Medical REIT (GMRE) Investors Do?
If you are an investor that was sold Global Medical REIT, Inc. (GMRE) and it was not a suitable or appropriate investment for you, and you are facing the prospect of a substantial loss whether it has been realized (sold) or unrealized (remains unsold).
You always can “wait and see” if something changes, but keep in mind that there is a limited time for investors to take action because of the statute of limitations, rules, and laws.
Broker-dealer firms recommending this investment had a duty to know and understand the investment as well as a responsibility to know their client before making any recommendation to investors. Some broker-dealer firms fail their customers by not properly and adequately supervise the recommendations and sale of investments such as GMRE to investors.
For some GMRE investors with significant losses who received unsuitable investment recommendations, one good option includes filing a FINRA client dispute. This is an alternative form of a lawsuit or dispute resolution which is private and faster than traditional trials. Also, there are typically no depositions, as it is almost entirely paper-based discovery.
You should contact experienced investment fraud lawyers who can review the status of these and similar investments in your accounts, properly advise you regarding your rights and options, and help you by taking steps to help you recover your investment losses.
About Haselkorn & Thibaut, P.A.
Haselkorn and Thibaut is a national law firm that specializes in fighting for investors. The firm has offices in Palm Beach, Florida, on Park Avenue in New York and Phoenix, Arizona, and Cary, North Carolina. The two founding partners have 45 years of legal experience.
Typically, there are no depositions involved, and those cases are usually handled on contingency with no recovery, no fee terms.
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