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

Global Medical REIT (NYSE:GMRE) had its price objective decreased by investment analysts at Robert W. Baird from $45.00 to $41.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 26.10% from the stock’s previous close.

GMRE has been the subject of a number of other reports. JMP Securities set a $40.00 price objective on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a research report on Monday, October 13th. Citigroup upgraded shares of Global Medical REIT to an “outperform” rating in a report on Monday, October 13th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Global Medical REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT Trading Up 0.5%

Shares of GMRE stock opened at $32.52 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 stock has a fifty day simple moving average of $33.81 and a two-hundred day simple moving average of $34.14. The firm has a market capitalization of $436.03 million, a PE ratio of -130.06 and a beta of 1.17. Global Medical REIT has a 52-week low of $29.05 and a 52-week high of $45.75.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 earnings per share 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 analyst estimates of $38.15 million. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. On average, analysts predict that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT declared that its board has approved a stock buyback plan on Wednesday, August 13th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to reacquire up to 11.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Global Medical REIT

Several hedge funds have recently made changes to their positions in GMRE. Fifth Third Bancorp purchased a new position in Global Medical REIT in the third quarter worth about $35,000. New York State Teachers Retirement System purchased a new stake in Global Medical REIT during the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC lifted its stake in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the last quarter. State of Wyoming purchased a new position in shares of Global Medical REIT in the 1st quarter worth approximately $65,000. Finally, Metis Global Partners LLC purchased a new position in shares of Global Medical REIT in the 2nd quarter worth approximately $72,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.