Global Medical REIT Inc. (NYSE:GMRE) Receives Average Rating of “Moderate Buy” from Analysts

Global Medical REIT Inc. (NYSE:GMRE) has received a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $42.00.

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

Institutional Inflows and Outflows

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

Global Medical REIT Trading Down 0.1%

GMRE stock opened at $35.96 on Monday. The business has a fifty day moving average price of $35.24 and a 200 day moving average price of $34.40. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $45.75. The stock has a market capitalization of $482.22 million, a price-to-earnings ratio of -143.84 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52.

Global Medical REIT Dividend Announcement

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

Global Medical REIT Company Profile

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.