Shares of Global Medical REIT Inc. (NYSE:GMRE) have been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $17.25.
GMRE has been the topic of a number of research analyst reports. KeyCorp began coverage on Global Medical REIT in a research note on Monday, September 20th. They set an “overweight” rating and a $17.00 price target on the stock. Zacks Investment Research downgraded Global Medical REIT from a “hold” rating to a “strong sell” rating in a report on Thursday, December 23rd.
Shares of Global Medical REIT stock opened at $17.75 on Friday. The firm has a market cap of $1.14 billion, a P/E ratio of 118.34, a P/E/G ratio of 2.49 and a beta of 0.82. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 0.90. Global Medical REIT has a 12 month low of $12.40 and a 12 month high of $17.96. The stock’s fifty day moving average price is $16.73 and its 200-day moving average price is $15.76.
Global Medical REIT (NYSE:GMRE) last posted its earnings results on Wednesday, November 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.17). Global Medical REIT had a net margin of 13.46% and a return on equity of 2.94%. During the same period in the previous year, the business posted $0.23 earnings per share. Analysts forecast that Global Medical REIT will post 0.86 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Monday, January 10th. Investors of record on Monday, December 27th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, December 23rd. Global Medical REIT’s payout ratio is 546.70%.
Hedge funds have recently bought and sold shares of the business. Capital Analysts LLC purchased a new position in Global Medical REIT during the 3rd quarter worth approximately $33,000. PNC Financial Services Group Inc. acquired a new stake in shares of Global Medical REIT in the 2nd quarter valued at approximately $59,000. Ameritas Investment Partners Inc. lifted its holdings in shares of Global Medical REIT by 32.2% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,446 shares of the company’s stock valued at $66,000 after buying an additional 1,084 shares during the period. Advisory Services Network LLC acquired a new position in Global Medical REIT during the second quarter worth $66,000. Finally, Penserra Capital Management LLC acquired a new position in Global Medical REIT during the third quarter worth $80,000. 70.10% of the stock is currently owned by institutional investors.
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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