Global Medical REIT (NYSE:GMRE) Announces Earnings Results, Beats Expectations By $0.07 EPS

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

Global Medical REIT Stock Performance

GMRE traded down $0.12 during trading on Tuesday, hitting $30.34. The stock had a trading volume of 203,357 shares, compared to its average volume of 204,274. The company has a 50 day moving average price of $34.23 and a 200-day moving average price of $34.30. The firm has a market cap of $405.98 million, a price-to-earnings ratio of 86.69 and a beta of 1.17. Global Medical REIT has a one year low of $30.03 and a one year high of $47.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.28.

Global Medical REIT Increases Dividend

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

Hedge Funds Weigh In On Global Medical REIT

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMRE. Tower Research Capital LLC TRC grew its position in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after buying an additional 3,046 shares during the last quarter. AQR Capital Management LLC grew its position in Global Medical REIT by 9.5% in the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after purchasing an additional 5,062 shares in the last quarter. State of Wyoming grew its holdings in shares of Global Medical REIT by 71.3% in the second quarter. State of Wyoming now owns 12,656 shares of the company’s stock valued at $88,000 after acquiring an additional 5,266 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Global Medical REIT by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 60,584 shares of the company’s stock valued at $420,000 after acquiring an additional 6,539 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Global Medical REIT by 9.6% in the second quarter. CANADA LIFE ASSURANCE Co now owns 85,740 shares of the company’s stock valued at $595,000 after acquiring an additional 7,500 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

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

Analyst Ratings Changes

GMRE has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Medical REIT in a research report on Wednesday, October 8th. JMP Securities set a $40.00 price target on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Citigroup upgraded shares of Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Finally, Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.