Global Medical REIT Inc. (NYSE:GMRE) Given Average Rating of “Moderate Buy” by Brokerages

Global Medical REIT Inc. (NYSE:GMRE) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $41.50.

Several analysts have recently weighed in on GMRE shares. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Robert W. Baird reduced their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th.

Global Medical REIT Trading Up 0.9%

NYSE GMRE opened at $36.79 on Thursday. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $45.75. The company’s 50-day moving average price is $34.85 and its 200-day moving average price is $34.19. The stock has a market cap of $493.35 million, a PE ratio of -147.16 and a beta of 1.18. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, December 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.2%. Global Medical REIT’s dividend payout ratio (DPR) is currently -1,200.00%.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. acquired 10,000 shares of Global Medical REIT stock in a transaction that occurred on Friday, November 14th. The stock was bought at an average price of $32.58 per share, with a total value of $325,800.00. Following the completion of the purchase, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. This represents a 28.76% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of GMRE. Caitong International Asset Management Co. Ltd raised its stake in shares of Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new position in Global Medical REIT in the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System purchased a new position in Global Medical REIT during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC lifted its stake in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after acquiring an additional 3,046 shares during the period. Finally, Metis Global Partners LLC acquired a new stake in Global Medical REIT during the 2nd quarter valued at approximately $72,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

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.