Global Medical REIT (NYSE:GMRE) Hits New 1-Year Low – Here’s Why

Global Medical REIT Inc. (NYSE:GMRE) reached a new 52-week low during trading on Thursday . The stock traded as low as $7.95 and last traded at $7.95, with a volume of 872976 shares trading hands. The stock had previously closed at $8.12.

Analysts Set New Price Targets

GMRE has been the subject of a number of recent research reports. Berenberg Bank assumed coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 price target for the company. Alliance Global Partners started coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company.

Global Medical REIT Stock Down 1.1 %

The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The firm has a fifty day moving average of $8.88 and a 200-day moving average of $9.18. The firm has a market cap of $525.07 million, a P/E ratio of -392.80, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. During the same quarter in the prior year, the company earned $0.23 EPS. On average, equities research analysts anticipate that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s dividend payout ratio is currently -4,200.00%.

Hedge Funds Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Franklin Resources Inc. raised its stake in Global Medical REIT by 228.9% in the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after acquiring an additional 80,030 shares during the period. Barclays PLC increased its holdings in shares of Global Medical REIT by 87.1% in the third quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after purchasing an additional 71,704 shares during the last quarter. First Dallas Securities Inc. raised its position in shares of Global Medical REIT by 28.0% in the third quarter. First Dallas Securities Inc. now owns 45,750 shares of the company’s stock valued at $453,000 after purchasing an additional 10,000 shares during the period. Geode Capital Management LLC lifted its stake in shares of Global Medical REIT by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock worth $16,078,000 after buying an additional 18,209 shares during the last quarter. Finally, Zacks Investment Management boosted its holdings in shares of Global Medical REIT by 12.9% during the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after buying an additional 1,696 shares during the period. Institutional investors own 57.52% of the company’s stock.

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.