Global Medical REIT (GMRE) Receives $10.13 Average Price Target from Analysts

Shares of Global Medical REIT (NYSE:GMRE) have been given a consensus recommendation of “Buy” by the six brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $10.13.

A number of research analysts recently weighed in on the stock. B. Riley dropped their price objective on shares of Global Medical REIT from $10.50 to $10.00 and set a “buy” rating for the company in a report on Thursday, May 10th. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating and set a $9.75 price target for the company in a report on Wednesday, May 9th. DA Davidson upgraded shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, March 28th. Finally, Cantor Fitzgerald assumed coverage on shares of Global Medical REIT in a report on Wednesday, March 7th. They set a “buy” rating and a $12.00 price target for the company.

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A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd acquired a new position in Global Medical REIT during the 1st quarter worth approximately $224,000. Millennium Management LLC boosted its holdings in shares of Global Medical REIT by 370.7% in the 1st quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock valued at $1,593,000 after buying an additional 180,465 shares in the last quarter. A.R.T. Advisors LLC boosted its holdings in shares of Global Medical REIT by 126.4% in the 1st quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock valued at $195,000 after buying an additional 15,703 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in shares of Global Medical REIT by 329.0% in the 1st quarter. GSA Capital Partners LLP now owns 99,100 shares of the company’s stock valued at $689,000 after buying an additional 76,000 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Global Medical REIT by 29.2% in the 1st quarter. Stifel Financial Corp now owns 189,956 shares of the company’s stock valued at $1,319,000 after buying an additional 42,958 shares in the last quarter. Institutional investors own 38.80% of the company’s stock.

Shares of Global Medical REIT traded up $0.33, reaching $9.53, during trading on Tuesday, Marketbeat reports. The company’s stock had a trading volume of 548,220 shares, compared to its average volume of 102,395. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market capitalization of $199.00 million, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.24 and a beta of 0.50. Global Medical REIT has a 1-year low of $6.34 and a 1-year high of $10.25.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The business had revenue of $11.56 million during the quarter, compared to analyst estimates of $11.50 million. Global Medical REIT had a net margin of 7.75% and a return on equity of 1.61%. research analysts forecast that Global Medical REIT will post 0.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Tuesday, June 26th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.39%. The ex-dividend date of this dividend is Monday, June 25th. Global Medical REIT’s dividend payout ratio (DPR) is presently 148.15%.

About Global Medical REIT

Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.