Global Medical REIT Inc. (NYSE:GMRE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Global Medical REIT Inc. (NYSE:GMRE) have been given an average recommendation of “Moderate Buy” by the five analysts that are presently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, one has issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $49.5833.

A number of research firms recently issued reports on GMRE. Weiss Ratings restated a “hold (c-)” rating on shares of Global Medical REIT in a report on Saturday, September 27th. Zacks Research upgraded Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company’s stock valued at $63,000 after acquiring an additional 7,190 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after acquiring an additional 3,046 shares in the last quarter. State of Wyoming purchased a new position in Global Medical REIT in the first quarter worth about $65,000. Metis Global Partners LLC purchased a new stake in Global Medical REIT during the 2nd quarter valued at $72,000. Finally, Squarepoint Ops LLC bought a new stake in Global Medical REIT in the 4th quarter worth about $82,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Price Performance

Shares of NYSE GMRE opened at $30.99 on Friday. The company has a market capitalization of $414.58 million, a PE ratio of 88.53 and a beta of 1.19. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.56. The stock’s 50 day moving average price is $35.33 and its 200-day moving average price is $35.45. Global Medical REIT has a twelve month low of $30.09 and a twelve month high of $48.13.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The business had revenue of $37.88 million for the quarter, compared to analysts’ expectations of $35.57 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. On average, equities analysts anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from Global Medical REIT’s previous quarterly dividend of $0.15. Global Medical REIT’s payout ratio is currently 857.14%.

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

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.