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

Global Medical REIT Inc. (NYSE:GMRE) has been assigned a consensus recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $41.50.

A number of brokerages recently issued reports on GMRE. Robert W. Baird decreased their target price on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Global Medical REIT in a research report on Tuesday. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Finally, Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a report on Monday, October 13th.

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $32.58 per share, with a total value of $325,800.00. Following the completion of the acquisition, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GMRE. Caitong International Asset Management Co. Ltd boosted its position in shares of Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares in the last quarter. Fifth Third Bancorp purchased a new stake in shares of Global Medical REIT during the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System purchased a new position in Global Medical REIT in the 3rd quarter valued at approximately $39,000. Tower Research Capital LLC TRC boosted its position in 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 worth $51,000 after purchasing an additional 3,046 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Global Medical REIT in the first quarter valued at $65,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Up 1.1%

GMRE stock opened at $33.34 on Friday. The stock has a market cap of $447.09 million, a P/E ratio of -133.36 and a beta of 1.17. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $45.75. The company’s 50 day moving average is $32.48 and its two-hundred day moving average is $33.69.

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 the consensus estimate of $1.05 by $0.07. Global Medical REIT had a net margin of 0.79% and a return on equity of 0.25%. The firm had revenue of $37.23 million for the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. Research analysts expect that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were given a $0.75 dividend. This is a positive change from Global Medical REIT’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, September 29th. This represents a $3.00 dividend on an annualized basis and a yield of 9.0%. Global Medical REIT’s payout ratio is -1,200.00%.

Global Medical REIT declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Global Medical REIT Company Profile

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.