Zacks Investment Research upgraded shares of Global Medical REIT (NYSE:GMRE) from a hold rating to a buy rating in a research note published on Tuesday. They currently have $10.00 price objective on the stock.

According to Zacks, “Global Medical REIT Inc. is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to clinical operators. Global Medical REIT Inc. is based in Denver, United States. “

Several other research analysts have also weighed in on GMRE. Boenning Scattergood upgraded shares of Global Medical REIT from a neutral rating to a buy rating and set a $11.00 price objective on the stock in a research note on Wednesday, November 7th. Janney Montgomery Scott lowered shares of Global Medical REIT from a buy rating to a neutral rating and set a $9.03 price objective on the stock. in a research note on Wednesday, December 19th. Robert W. Baird started coverage on shares of Global Medical REIT in a research note on Thursday, October 11th. They set an outperform rating and a $11.00 price objective on the stock. Finally, B. Riley restated a buy rating on shares of Global Medical REIT in a research note on Monday, November 12th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $10.29.

NYSE:GMRE traded up $0.18 on Tuesday, hitting $9.58. 4,445 shares of the company’s stock were exchanged, compared to its average volume of 221,723. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.09 and a quick ratio of 0.09. Global Medical REIT has a 52 week low of $6.34 and a 52 week high of $10.05. The stock has a market capitalization of $207.10 million, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.17 and a beta of 0.51.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.22). Global Medical REIT had a return on equity of 2.65% and a net margin of 9.87%. The business had revenue of $14.00 million for the quarter, compared to the consensus estimate of $14.34 million. On average, analysts anticipate that Global Medical REIT will post 0.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 10th. Investors of record on Wednesday, December 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Monday, December 24th. This represents a $0.80 dividend on an annualized basis and a yield of 8.35%. Global Medical REIT’s dividend payout ratio (DPR) is currently 148.15%.

In related news, major shareholder Zh Usa, Llc purchased 1,111,111 shares of the firm’s stock in a transaction that occurred on Friday, December 14th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $9,999,999.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 13.00% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc grew its position in shares of Global Medical REIT by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 899,741 shares of the company’s stock worth $8,475,000 after purchasing an additional 7,614 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Global Medical REIT by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 899,741 shares of the company’s stock worth $8,475,000 after purchasing an additional 7,614 shares in the last quarter. B. Riley Wealth Management Inc. acquired a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $251,000. Man Group plc grew its position in shares of Global Medical REIT by 17.0% during the 3rd quarter. Man Group plc now owns 296,024 shares of the company’s stock worth $2,789,000 after purchasing an additional 43,100 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Global Medical REIT by 15.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 69,486 shares of the company’s stock worth $655,000 after purchasing an additional 9,434 shares in the last quarter. Hedge funds and other institutional investors own 41.48% of the company’s stock.

About Global Medical REIT

Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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