Global Medical REIT (NYSE:GMRE) Upgraded at B. Riley

B. Riley upgraded shares of Global Medical REIT (NYSE:GMRE) to a hold rating in a research report released on Wednesday,Zacks.com reports.

Global Medical REIT Stock Performance

NYSE:GMRE opened at $8.03 on Wednesday. The stock has a market capitalization of $536.64 million, a P/E ratio of -401.05, a P/E/G ratio of 1.43 and a beta of 1.12. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT has a 12-month low of $7.33 and a 12-month high of $10.46. The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $8.65.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million. Equities research analysts forecast that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, March 21st. This represents a $0.84 annualized dividend and a yield of 10.47%. Global Medical REIT’s payout ratio is presently 8,400.00%.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently made changes to their positions in GMRE. Franklin Resources Inc. boosted its stake in shares of Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after purchasing an additional 80,030 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Global Medical REIT by 158.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock worth $1,195,000 after purchasing an additional 73,965 shares during the last quarter. Barclays PLC increased its position in Global Medical REIT by 87.1% during the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares in the last quarter. Aew Capital Management L P purchased a new position in shares of Global Medical REIT in the 4th quarter valued at approximately $230,000. Finally, State Street Corp raised its stake in Global Medical REIT by 1.5% in the 3rd quarter. State Street Corp now owns 1,924,433 shares of the company’s stock worth $19,468,000 after acquiring an additional 28,444 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Company Profile

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.