Shares of Global Medical REIT Inc. (NYSE: GMRE – Get Rating) have been assigned a consensus recommendation of “Hold” from the six analysts who currently cover the stock, reports Marketbeat Ratings. One financial analyst rated the stock with a sell recommendation, one gave the company a hold recommendation and two gave the company a buy recommendation. The 12-month average price target among brokers who have quoted the stock over the past year is $17.00.
A number of analysts have weighed in on GMRE shares recently. Zacks Investment Research downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a Friday, May 13 research report. StockNews.com began covering shares of Global Medical REIT in a research report on Thursday, March 31. They issued a “hold” rating on the stock. TheStreet downgraded shares of Global Medical REIT from a “b-” rating to a “c” rating in a Monday, April 4 research report. Finally, B. Riley cut his price target on Global Medical REIT shares from $18.00 to $16.00 in a Tuesday, May 10 research report.
NYSE GMRE shares opened at $13.17 on Tuesday. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt ratio of 0.92. Global Medical REIT has a 12-month low of $12.20 and a 12-month high of $18.51. The company has a market capitalization of $862.90 million, a PE ratio of 65.85, a growth price-earnings ratio of 1.74 and a beta of 0.90. The company has a fifty-day simple moving average of $14.68 and a two-hundred-day simple moving average of $15.90.
Global Medical REIT (NYSE:GMRE – Get Rating) last released quarterly earnings data on Wednesday, May 4. The company reported EPS of $0.04 for the quarter, missing the consensus estimate of $0.23 per ($0.19). Global Medical REIT recorded a return on equity of 3.02% and a net margin of 14.17%. In the same quarter a year earlier, the company had earned earnings per share of $0.24. On average, sell-side analysts expect Global Medical REIT to post 0.95 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, April 8. Investors of record on Friday, March 25 received a dividend of $0.21 per share. This represents an annualized dividend of $0.84 and a yield of 6.38%. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 24. Global Medical REIT’s dividend payout ratio is 420.02%.
In other news, CEO Jeffrey Busch acquired 2,000 shares of the company in a deal that took place on Thursday, March 3. The shares were purchased at an average cost of $15.55 per share, with a total value of $31,100.00. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders hold 7.60% of the company’s stock.
Hedge funds have recently changed their positions in the stock. Advisory Services Network LLC purchased a new equity stake in Global Medical REIT during Q1 worth approximately $165,000. Toroso Investments LLC increased its equity stake in Global Medical REIT by 41.2% during the 1st quarter. Toroso Investments LLC now owns 18,384 shares of the company valued at $300,000 after acquiring an additional 5,362 shares in the last quarter. Connors Investor Services Inc. increased its holdings of Global Medical REIT shares by 3.2% during the 1st quarter. Connors Investor Services Inc. now owns 194,596 shares of the company valued at $3,176,000 after acquiring 5,945 additional shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Global Medical REIT during Q1, valued at approximately $170,000. Finally, the Royal Bank of Canada increased its holdings of Global Medical REIT shares by 2.0% during the 1st quarter. Royal Bank of Canada now owns 1,376,493 shares of the company valued at $22,464,000 after acquiring 27,055 additional shares in the last quarter. 68.60% of the shares are currently held by institutional investors.
Global Medical REIT Company Profile (Get a rating)
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and the leasing of these properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is based in Bethesda, MD.
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