Global Medical REIT Inc. (NYSE:GMRE) Receives $41.50 Consensus Target Price from Brokerages

Global Medical REIT Inc. (NYSE:GMRE) has been assigned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $41.50.

A number of research firms have commented on GMRE. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Robert W. Baird reduced their target price on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Citizens Jmp raised shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research 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, Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Medical REIT in a research report on Monday.

Insider Activity

In other Global Medical REIT news, 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 bought at an average price of $32.58 per share, for a total transaction of $325,800.00. Following the transaction, the chief executive officer directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Medical REIT

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of Global Medical REIT by 1.3% during the first quarter. Vanguard Group Inc. now owns 6,400,340 shares of the company’s stock valued at $56,003,000 after purchasing an additional 82,503 shares during the period. Geode Capital Management LLC increased its position 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 buying an additional 50,959 shares in the last quarter. Invesco Ltd. raised its stake in Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after buying an additional 355,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Global Medical REIT by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock worth $10,499,000 after acquiring an additional 119,538 shares in the last quarter. Finally, Man Group plc boosted its holdings in Global Medical REIT by 1.7% in the second quarter. Man Group plc now owns 600,943 shares of the company’s stock worth $4,165,000 after acquiring an additional 10,192 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Stock Down 3.5%

NYSE:GMRE opened at $33.01 on Wednesday. Global Medical REIT has a one year low of $29.05 and a one year high of $45.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $442.66 million, a PE ratio of -132.04 and a beta of 1.17. The firm’s 50 day simple moving average is $32.72 and its 200 day simple moving average is $33.94.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research analysts anticipate that Global Medical REIT will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Friday, December 19th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, December 19th. This represents a $3.00 annualized dividend and a dividend yield of 9.1%. Global Medical REIT’s dividend payout ratio (DPR) is -1,200.00%.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.