Mark Okey Decker Jr Acquires 10,000 Shares of Global Medical REIT (NYSE:GMRE) Stock

Global Medical REIT Inc. (NYSE:GMRE) CEO Mark Okey Decker, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were acquired at an average price of $32.58 per share, for a total transaction of $325,800.00. Following the transaction, the chief executive officer owned 44,774 shares in the company, valued at $1,458,736.92. This represents a 28.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Global Medical REIT Trading Down 1.4%

GMRE traded down $0.45 during trading on Monday, hitting $32.28. The company’s stock had a trading volume of 147,537 shares, compared to its average volume of 163,887. The firm has a market capitalization of $432.93 million, a P/E ratio of -129.14 and a beta of 1.17. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $45.75. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.65. The stock’s fifty day moving average price is $33.31 and its 200-day moving average price is $33.92.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07. Global Medical REIT had a net margin of 0.79% and a return on equity of 0.25%. The company had revenue of $37.23 million during the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. Analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th were issued a dividend of $0.75 per share. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.15. This represents a $3.00 annualized dividend and a dividend yield of 9.3%. The ex-dividend date was Monday, September 29th. Global Medical REIT’s dividend payout ratio (DPR) is currently -1,200.00%.

Global Medical REIT declared that its board has authorized a share repurchase program on Wednesday, August 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Zacks Research upgraded Global Medical REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. JMP Securities set a $40.00 price target on shares of Global Medical REIT and gave the company a “market outperform” rating in a research report on Monday, October 13th. Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target for the company in a research note on Monday, October 13th. Robert W. Baird lowered their price objective on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Medical REIT in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $41.50.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Global Medical REIT by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,400,340 shares of the company’s stock valued at $56,003,000 after acquiring an additional 82,503 shares in the last quarter. Geode Capital Management LLC grew its stake in Global Medical REIT by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,748,799 shares of the company’s stock valued at $12,121,000 after purchasing an additional 50,959 shares during the period. Bank of New York Mellon Corp grew its stake in Global Medical REIT by 10.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company’s stock valued at $13,564,000 after purchasing an additional 144,671 shares during the period. Invesco Ltd. increased its position in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after purchasing an additional 355,355 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Medical REIT by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock worth $10,499,000 after purchasing an additional 119,538 shares during the period. 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.