Global Medical REIT (NYSE:GMRE) Posts Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Global Medical REIT (NYSE:GMRE) released its earnings results on Tuesday. The company reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.07, Zacks reports. The business had revenue of $37.04 million for the quarter, compared to the consensus estimate of $38.15 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT updated its FY 2025 guidance to 4.500-4.600 EPS.

Global Medical REIT Stock Performance

Shares of GMRE stock traded up $1.10 during midday trading on Wednesday, hitting $31.25. 90,754 shares of the company were exchanged, compared to its average volume of 144,147. The firm has a market capitalization of $418.13 million, a P/E ratio of 89.28 and a beta of 1.17. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s 50 day moving average price is $34.23 and its two-hundred day moving average price is $34.30. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $47.00.

Global Medical REIT Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 9.6%. The ex-dividend date of this dividend was 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 presently 857.14%.

Global Medical REIT announced that its Board of Directors has approved a stock repurchase program on Wednesday, August 13th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to reacquire up to 11.1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Global Medical REIT

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. boosted its holdings in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after buying an additional 355,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Global Medical REIT by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock worth $10,499,000 after buying an additional 119,538 shares during the period. Man Group plc boosted its holdings in shares of Global Medical REIT by 1.7% during the 2nd quarter. Man Group plc now owns 600,943 shares of the company’s stock worth $4,165,000 after buying an additional 10,192 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock worth $3,400,000 after buying an additional 45,243 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Global Medical REIT by 2,208.2% during the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after buying an additional 279,070 shares during the period. Institutional investors own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

GMRE has been the topic of several research reports. Wall Street Zen upgraded Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Citizens Jmp upgraded Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, October 13th. JMP Securities set a $40.00 target price on Global Medical REIT and gave the stock a “market outperform” rating in a research note on Monday, October 13th. Citigroup raised Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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.