Shares of Global Medical REIT Inc (NYSE:GMRE) have been given a consensus recommendation of “Buy” by the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $10.21.
Several research firms recently commented on GMRE. Boenning Scattergood raised Global Medical REIT from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday, November 7th. Janney Montgomery Scott lowered Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 target price on the stock. in a report on Wednesday, December 19th. Zacks Investment Research lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Friday, November 9th. Robert W. Baird began coverage on Global Medical REIT in a report on Thursday, October 11th. They issued an “outperform” rating and a $11.00 target price on the stock. Finally, B. Riley reissued a “buy” rating on shares of Global Medical REIT in a report on Monday, November 12th.
Get Global Medical REIT alerts:In other news, major shareholder Zh Usa, Llc acquired 1,111,111 shares of the company’s stock in a transaction on Friday, December 14th. The shares were bought at an average price of $9.00 per share, with a total value of $9,999,999.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.00% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Janney Montgomery Scott LLC grew its holdings in shares of Global Medical REIT by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 111,188 shares of the company’s stock worth $988,000 after buying an additional 1,181 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Global Medical REIT by 10.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,526 shares of the company’s stock worth $138,000 after buying an additional 1,474 shares during the last quarter. Strs Ohio grew its holdings in shares of Global Medical REIT by 5.9% during the fourth quarter. Strs Ohio now owns 32,574 shares of the company’s stock worth $289,000 after buying an additional 1,819 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Global Medical REIT by 3.0% during the third quarter. Bank of New York Mellon Corp now owns 190,096 shares of the company’s stock worth $1,791,000 after buying an additional 5,543 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Global Medical REIT by 0.9% during the third quarter. Vanguard Group Inc. now owns 899,741 shares of the company’s stock worth $8,475,000 after buying an additional 7,614 shares during the last quarter. 42.24% of the stock is currently owned by institutional investors.
NYSE:GMRE traded up $0.06 during trading hours on Thursday, hitting $9.97. The company’s stock had a trading volume of 66,000 shares, compared to its average volume of 127,777. The firm has a market capitalization of $220.89 million, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.24 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.09 and a quick ratio of 0.09. Global Medical REIT has a 52-week low of $6.34 and a 52-week high of $10.05.
Global Medical REIT (NYSE:GMRE) last posted its earnings results on Monday, November 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.22). The business had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $14.34 million. Global Medical REIT had a net margin of 9.87% and a return on equity of 2.65%. As a group, equities analysts anticipate that Global Medical REIT will post 0.77 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 10th. Shareholders of record on Wednesday, December 26th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 8.02%. The ex-dividend date was Monday, December 24th. Global Medical REIT’s payout ratio is 148.15%.
About Global Medical REIT
Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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