Global Medical REIT (NYSE:GMRE) Announces Quarterly Earnings Results

Global Medical REIT (NYSE:GMRE) issued its earnings results on Tuesday. The company reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07, Zacks reports. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT updated its FY 2025 guidance to 4.500-4.600 EPS.

Global Medical REIT Stock Down 0.4%

NYSE:GMRE traded down $0.12 during trading hours on Tuesday, hitting $30.34. The company’s stock had a trading volume of 203,357 shares, compared to its average volume of 204,274. The stock has a fifty day moving average of $34.23 and a 200-day moving average of $34.30. The stock has a market capitalization of $405.98 million, a P/E ratio of 86.69 and a beta of 1.17. Global Medical REIT has a 52-week low of $30.03 and a 52-week high of $47.00. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.56.

Global Medical REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.9%. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, September 29th. Global Medical REIT’s dividend payout ratio (DPR) is presently 857.14%.

Global Medical REIT declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to buy up to 11.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Global Medical REIT

A number of hedge funds have recently added to or reduced their stakes in GMRE. Goldman Sachs Group Inc. lifted its holdings in Global Medical REIT by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after purchasing an additional 45,243 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Global Medical REIT by 61.5% during the 2nd quarter. Osaic Holdings Inc. now owns 57,283 shares of the company’s stock worth $401,000 after purchasing an additional 21,810 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Global Medical REIT by 9.6% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 85,740 shares of the company’s stock worth $595,000 after acquiring an additional 7,500 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Global Medical REIT by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 60,584 shares of the company’s stock worth $420,000 after purchasing an additional 6,539 shares during the last quarter. Finally, Gamco Investors INC. ET AL acquired a new position in shares of Global Medical REIT in the 2nd quarter worth approximately $362,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Ratings Changes

GMRE has been the subject of several analyst reports. Citigroup raised shares of Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. JMP Securities set a $40.00 target price on Global Medical REIT and gave the company a “market outperform” rating in a research report on Monday, October 13th. Zacks Research upgraded shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Wall Street Zen raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Finally, Citizens Jmp raised shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Global Medical REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

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.