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

Shares of Global Medical REIT Inc. (NYSE:GMRE) have received an average rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $41.50.

A number of equities research analysts have weighed in on GMRE shares. JMP Securities set a $40.00 price objective on Global Medical REIT and gave the company a “market outperform” rating in a research note on Monday, October 13th. Citigroup upgraded shares of Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Robert W. Baird dropped 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 research note on Tuesday, November 11th. Finally, Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st.

Insider Buying and Selling at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $32.58 per share, with a total value of $325,800.00. Following the completion of the acquisition, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

Several hedge funds have recently modified their holdings of the stock. Peregrine Capital Management LLC purchased a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $4,785,000. EMC Capital Management grew its holdings in Global Medical REIT by 457.0% during the second quarter. EMC Capital Management now owns 12,654 shares of the company’s stock worth $88,000 after acquiring an additional 10,382 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Global Medical REIT by 2.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 88,000 shares of the company’s stock worth $610,000 after acquiring an additional 2,500 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Global Medical REIT by 32.4% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 163,070 shares of the company’s stock valued at $1,130,000 after acquiring an additional 39,870 shares during the period. Finally, Fox Run Management L.L.C. acquired a new stake in Global Medical REIT in the second quarter valued at $183,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $36.41 on Thursday. The stock’s 50-day moving average is $34.72 and its two-hundred day moving average is $34.16. The firm has a market cap of $488.19 million, a price-to-earnings ratio of -145.62 and a beta of 1.18. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

About Global Medical REIT

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.