Global Medical REIT Inc (GMRE) Receives Consensus Rating of “Buy” from Brokerages

Shares of Global Medical REIT Inc (NYSE:GMRE) have been given a consensus rating of “Buy” by the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.75.

Several analysts have commented on the stock. B. Riley restated a “buy” rating on shares of Global Medical REIT in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd.

Several institutional investors and hedge funds have recently bought and sold shares of GMRE. Rhumbline Advisers lifted its stake in shares of Global Medical REIT by 47.6% in the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock valued at $158,000 after purchasing an additional 5,710 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Global Medical REIT by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,481 shares of the company’s stock valued at $1,229,000 after purchasing an additional 11,126 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Global Medical REIT by 20.6% in the 2nd quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock valued at $239,000 after purchasing an additional 4,589 shares during the period. Teachers Advisors LLC lifted its stake in shares of Global Medical REIT by 5.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock valued at $235,000 after purchasing an additional 1,243 shares during the period. Finally, D.A. Davidson & CO. lifted its stake in shares of Global Medical REIT by 12.2% in the 2nd quarter. D.A. Davidson & CO. now owns 76,763 shares of the company’s stock valued at $686,000 after purchasing an additional 8,318 shares during the period. Hedge funds and other institutional investors own 41.02% of the company’s stock.

Shares of Global Medical REIT (GMRE) traded up $0.04 during midday trading on Friday, reaching $7.87. 115,620 shares of the company’s stock traded hands, compared to its average volume of 132,372. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.22 and a current ratio of 0.22. Global Medical REIT has a twelve month low of $7.72 and a twelve month high of $10.25. The firm has a market cap of $169.37, a PE ratio of -29.15, a price-to-earnings-growth ratio of 1.27 and a beta of -0.04.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.10). Global Medical REIT had a negative net margin of 19.98% and a negative return on equity of 2.86%. sell-side analysts forecast that Global Medical REIT will post 0.33 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 10.17%. The ex-dividend date of this dividend was Friday, December 22nd. Global Medical REIT’s dividend payout ratio is currently -296.30%.

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Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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