Weiss Ratings Reaffirms “Hold (C-)” Rating for Global Medical REIT (NYSE:GMRE)

Global Medical REIT (NYSE:GMRE)‘s stock had its “hold (c-)” rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Global Medical REIT has an average rating of “Moderate Buy” and a consensus target price of $49.58.

Global Medical REIT Stock Down 1.0%

Shares of NYSE GMRE opened at $30.73 on Wednesday. Global Medical REIT has a one year low of $30.09 and a one year high of $48.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.28. The business’s fifty day moving average price is $35.28 and its 200-day moving average price is $35.41. The stock has a market capitalization of $411.17 million, a PE ratio of 87.80 and a beta of 1.19.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $37.88 million for the quarter, compared to analysts’ expectations of $35.57 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. On average, equities research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT announced that its board has authorized a stock buyback plan on Wednesday, August 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its stake in Global Medical REIT by 8.5% during the first quarter. D.A. Davidson & CO. now owns 494,238 shares of the company’s stock valued at $4,325,000 after buying an additional 38,577 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Global Medical REIT by 76.6% in the first quarter. Deutsche Bank AG now owns 80,435 shares of the company’s stock worth $704,000 after purchasing an additional 34,891 shares during the last quarter. Bank of New York Mellon Corp increased its position in Global Medical REIT by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company’s stock valued at $13,564,000 after acquiring an additional 144,671 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Global Medical REIT by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after acquiring an additional 45,243 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Global Medical REIT by 11,234.4% during the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company’s stock valued at $63,000 after acquiring an additional 7,190 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.