Global Medical REIT Inc (NYSE:GMRE) – Investment analysts at Cantor Fitzgerald lifted their FY2018 earnings per share (EPS) estimates for shares of Global Medical REIT in a research report issued to clients and investors on Sunday. Cantor Fitzgerald analyst J. France now expects that the company will post earnings per share of $0.80 for the year, up from their previous estimate of $0.55. Cantor Fitzgerald currently has a “Buy” rating and a $12.00 target price on the stock.
Separately, Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Global Medical REIT currently has a consensus rating of “Buy” and a consensus price target of $10.10.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 22nd will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, March 21st. This represents a $0.80 dividend on an annualized basis and a yield of 11.10%. Global Medical REIT’s dividend payout ratio is presently -470.56%.
In other Global Medical REIT news, Chairman Jeffrey Busch acquired 6,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average price of $7.13 per share, with a total value of $42,780.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 16.51% of the company’s stock.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Global Medical REIT during the 3rd quarter valued at $115,000. Nomura Asset Management Co. Ltd. bought a new position in Global Medical REIT in the 3rd quarter worth $120,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Global Medical REIT in the 3rd quarter worth $154,000. Raymond James Financial Services Advisors Inc. bought a new position in Global Medical REIT in the 2nd quarter worth $185,000. Finally, B. Riley Financial Inc. bought a new position in Global Medical REIT in the 3rd quarter worth $229,000. 44.55% of the stock is owned by hedge funds and other institutional investors.
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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.
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