Global Medical REIT Inc. (NYSE:GMRE) Receives $41.50 Consensus Price Target from Brokerages

Global Medical REIT Inc. (NYSE:GMRE) has received a consensus rating of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $41.50.

A number of equities analysts have commented on GMRE shares. Citigroup raised Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. Robert W. Baird decreased their target price on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Citizens Jmp raised shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research report on Monday, October 13th. Zacks Research raised shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 10,000 shares of Global Medical REIT stock in a transaction dated Friday, November 14th. The shares were purchased at an average cost of $32.58 per share, with a total value of $325,800.00. Following the completion of the purchase, the chief executive officer owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. This represents a 28.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Global Medical REIT by 9.5% during the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after buying an additional 5,062 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Global Medical REIT by 23,920.0% in the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock worth $210,000 after acquiring an additional 23,920 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after acquiring an additional 45,243 shares during the period. Strs Ohio bought a new stake in Global Medical REIT during the first quarter worth about $95,000. Finally, Arrow Investment Advisors LLC boosted its stake in Global Medical REIT by 10.8% during the second quarter. Arrow Investment Advisors LLC now owns 22,232 shares of the company’s stock worth $154,000 after acquiring an additional 2,171 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $36.24 on Friday. The firm has a fifty day simple moving average of $33.74 and a two-hundred day simple moving average of $34.20. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $45.75. The company has a market capitalization of $485.87 million, a PE ratio of -144.96 and a beta of 1.18.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.The firm had revenue of $37.23 million for the quarter, compared to the consensus estimate of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. Research analysts expect that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.75 dividend. The ex-dividend date was Friday, December 19th. This represents a $3.00 annualized dividend and a yield of 8.3%. Global Medical REIT’s dividend payout ratio (DPR) is -1,200.00%.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.