Global Medical REIT Inc. (NYSE:GMRE) Receives $42.50 Consensus Target Price from Analysts

Shares of Global Medical REIT Inc. (NYSE:GMRE) have earned a consensus rating of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $42.50.

Several equities research analysts have recently issued reports on the company. Zacks Research raised Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Citizens Jmp upgraded Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a report on Wednesday, October 8th. Wall Street Zen raised Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Finally, Citigroup upgraded Global Medical REIT to an “outperform” rating in a report on Monday, October 13th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System acquired a new position in shares of Global Medical REIT during the third quarter valued at about $39,000. Tower Research Capital LLC TRC grew its position in Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after buying an additional 3,046 shares in the last quarter. State of Wyoming bought a new position in Global Medical REIT during the first quarter valued at about $65,000. Samalin Investment Counsel LLC acquired a new position in Global Medical REIT in the 3rd quarter valued at approximately $273,000. Finally, Metis Global Partners LLC acquired a new position in Global Medical REIT in the 2nd quarter valued at approximately $72,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Trading Up 0.0%

NYSE:GMRE opened at $31.08 on Tuesday. The company’s 50 day moving average is $34.61 and its 200-day moving average is $34.47. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.56. Global Medical REIT has a 12 month low of $30.09 and a 12 month high of $47.00. The firm has a market cap of $415.73 million, a price-to-earnings ratio of 88.80 and a beta of 1.19.

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

Global Medical REIT announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Global Medical REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 9.7%. The ex-dividend date was Monday, September 29th. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.15. Global Medical REIT’s dividend payout ratio is currently 857.14%.

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.