Robert W. Baird Lowers Global Medical REIT (NYSE:GMRE) Price Target to $41.00

Global Medical REIT (NYSE:GMRE) had its price objective cut by analysts at Robert W. Baird from $45.00 to $41.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target points to a potential upside of 27.14% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on GMRE. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Zacks Research raised Global Medical REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, November 7th. Citizens Jmp upgraded Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, October 13th. Finally, Citigroup raised Global Medical REIT to an “outperform” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT Price Performance

NYSE:GMRE opened at $32.25 on Tuesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. The company has a 50-day moving average of $33.65 and a 200-day moving average of $34.09. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $45.75. The company has a market capitalization of $432.46 million, a price-to-earnings ratio of -129.00 and a beta of 1.17.

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

Global Medical REIT declared that its Board of Directors has initiated a share buyback program on Wednesday, August 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 11.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of GMRE. Fifth Third Bancorp acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $35,000. New York State Teachers Retirement System bought a new position in Global Medical REIT during the third quarter worth about $39,000. Tower Research Capital LLC TRC grew its stake in Global Medical REIT by 70.3% in 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 during the period. State of Wyoming bought a new stake in shares of Global Medical REIT in the first quarter worth about $65,000. Finally, Samalin Investment Counsel LLC bought a new stake in shares of Global Medical REIT in the third quarter worth about $273,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.