Global Medical REIT Inc. (NYSE:GMRE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Global Medical REIT Inc. (NYSE:GMRE) have earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $41.50.

A number of research firms have recently weighed in on GMRE. Citigroup raised Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Robert W. Baird lowered their target price on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. JMP Securities set a $40.00 price target on Global Medical REIT and gave the stock a “market outperform” rating in a report on Monday, October 13th. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research report on Monday, October 13th.

Global Medical REIT Stock Up 3.2%

Shares of GMRE traded up $0.99 during mid-day trading on Friday, hitting $32.02. 139,052 shares of the company’s stock were exchanged, compared to its average volume of 157,775. The stock’s 50-day moving average is $32.80 and its 200-day moving average is $33.79. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $45.75. The company has a market cap of $429.36 million, a price-to-earnings ratio of -128.07 and a beta of 1.17.

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

Global Medical REIT announced that its Board of Directors has approved a share buyback plan on Wednesday, August 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Global Medical REIT Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were issued a dividend of $0.75 per share. This is a boost from Global Medical REIT’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, September 29th. This represents a $3.00 annualized dividend and a yield of 9.4%. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. acquired 10,000 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was acquired at an average cost of $32.58 per share, with a total value of $325,800.00. Following the transaction, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Trading of Global Medical REIT

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after buying an additional 721 shares during the last quarter. Fifth Third Bancorp purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $35,000. New York State Teachers Retirement System acquired a new stake in shares of Global Medical REIT during the 3rd quarter worth about $39,000. Tower Research Capital LLC TRC raised its position in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after acquiring an additional 3,046 shares in the last quarter. Finally, State of Wyoming purchased a new stake in Global Medical REIT during the first quarter worth approximately $65,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.