Global Medical REIT Inc (NYSE:GMRE) – Cantor Fitzgerald lifted their FY2018 EPS estimates for shares of Global Medical REIT in a report released on Sunday. Cantor Fitzgerald analyst J. France now forecasts that the company will earn $0.80 per share for the year, up from their previous forecast of $0.55. Cantor Fitzgerald currently has a “Buy” rating and a $12.00 price objective on the stock.
GMRE has been the topic of a number of other research reports. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. B. Riley reaffirmed a “buy” rating on shares of Global Medical REIT in a research report on Thursday, March 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $10.10.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its position in shares of Global Medical REIT by 36.0% during the third quarter. D.A. Davidson & CO. now owns 104,430 shares of the company’s stock worth $937,000 after purchasing an additional 27,667 shares during the period. BB&T Securities LLC raised its position in Global Medical REIT by 23.1% in the 3rd quarter. BB&T Securities LLC now owns 91,487 shares of the company’s stock valued at $821,000 after buying an additional 17,145 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Global Medical REIT by 37.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock valued at $1,044,000 after buying an additional 31,900 shares during the last quarter. SG Americas Securities LLC raised its position in Global Medical REIT by 67.2% in the 4th quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock valued at $176,000 after buying an additional 8,624 shares during the last quarter. Finally, RMR Advisors LLC raised its position in Global Medical REIT by 169.0% in the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock valued at $2,832,000 after buying an additional 216,943 shares during the last quarter. 44.55% of the stock is currently owned by institutional investors.
In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of the company’s stock in a transaction dated Tuesday, March 13th. The shares were bought at an average price of $7.13 per share, with a total value of $42,780.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.51% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.10%. The ex-dividend date is Wednesday, March 21st. Global Medical REIT’s dividend payout ratio is currently -470.56%.
About Global Medical REIT
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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