Shares of Global Medical REIT Inc (NYSE:GMRE) gapped down prior to trading on Friday . The stock had previously closed at $9.97, but opened at $9.88. Global Medical REIT shares last traded at $9.89, with a volume of 490842 shares.
Several analysts have commented on GMRE shares. B. Riley set a $11.00 price objective on shares of Global Medical REIT and gave the stock a “buy” rating in a report on Friday, March 8th. Boenning Scattergood restated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Wednesday, February 13th. Finally, Janney Montgomery Scott lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 target price for the company. in a report on Wednesday, December 19th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.17.
The firm has a market cap of $259.89 million, a PE ratio of 12.59, a P/E/G ratio of 1.37 and a beta of 0.62. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.09 and a current ratio of 0.11.
Global Medical REIT (NYSE:GMRE) last released its earnings results on Thursday, March 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%. The firm had revenue of $14.38 million during the quarter, compared to analyst estimates of $14.46 million. As a group, analysts expect that Global Medical REIT Inc will post 0.85 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 26th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 8.15%. Global Medical REIT’s payout ratio is 102.56%.
Hedge funds have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC bought a new stake in Global Medical REIT in the 3rd quarter worth approximately $565,000. Schnieders Capital Management LLC bought a new stake in shares of Global Medical REIT during the 4th quarter valued at $116,000. Northern Trust Corp grew its position in shares of Global Medical REIT by 16.0% during the 2nd quarter. Northern Trust Corp now owns 224,496 shares of the company’s stock valued at $1,989,000 after acquiring an additional 30,934 shares during the period. Martingale Asset Management L P bought a new stake in shares of Global Medical REIT during the 3rd quarter valued at $285,000. Finally, BlackRock Inc. grew its position in shares of Global Medical REIT by 0.9% during the 3rd quarter. BlackRock Inc. now owns 1,020,193 shares of the company’s stock valued at $9,609,000 after acquiring an additional 9,460 shares during the period. Hedge funds and other institutional investors own 49.70% of the company’s stock.
Global Medical REIT Company Profile (NYSE:GMRE)
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.
Further Reading: Cost of Debt
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