Global Medical REIT Inc (NYSE:GMRE) has been assigned an average rating of “Buy” from the seven ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $10.51.
Several brokerages have recently commented on GMRE. Stifel Nicolaus began coverage on shares of Global Medical REIT in a research report on Monday, April 15th. They set a “buy” rating and a $11.00 price target for the company. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, March 12th. B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the stock a “buy” rating in a research report on Friday, March 8th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Global Medical REIT in a research report on Thursday, March 7th.
Shares of NYSE:GMRE traded up $0.29 during trading on Tuesday, hitting $10.09. 456,940 shares of the company’s stock were exchanged, compared to its average volume of 382,265. Global Medical REIT has a 1-year low of $7.55 and a 1-year high of $11.02. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market cap of $265.60 million, a price-to-earnings ratio of 12.94, a P/E/G ratio of 1.35 and a beta of 0.61.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.21 by $0.10. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%. The company had revenue of $14.38 million during the quarter, compared to analysts’ expectations of $14.46 million. Equities research analysts anticipate that Global Medical REIT will post 0.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 26th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date was Monday, March 25th. Global Medical REIT’s dividend payout ratio is currently 102.56%.
In related news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.75, for a total transaction of $57,963.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio grew its holdings in Global Medical REIT by 9.0% during the first quarter. Strs Ohio now owns 35,497 shares of the company’s stock valued at $348,000 after purchasing an additional 2,923 shares during the period. Nisa Investment Advisors LLC acquired a new position in Global Medical REIT during the first quarter valued at approximately $85,000. Financial Advantage Inc. acquired a new position in Global Medical REIT during the first quarter valued at approximately $31,000. RMR Advisors LLC grew its holdings in Global Medical REIT by 13.1% during the first quarter. RMR Advisors LLC now owns 495,467 shares of the company’s stock valued at $4,865,000 after purchasing an additional 57,500 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Global Medical REIT by 19.9% during the first quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock valued at $72,000 after purchasing an additional 1,229 shares during the period. Hedge funds and other institutional investors own 41.76% of the company’s stock.
About Global Medical REIT
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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