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

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

GMRE has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Global Medical REIT in a report on Monday, December 29th. Robert W. Baird cut their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Citizens Jmp upgraded Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a report on Monday, October 13th. Finally, Citigroup upgraded Global Medical REIT to an “outperform” rating in a report on Monday, October 13th.

Global Medical REIT Stock Up 1.5%

Shares of NYSE:GMRE opened at $36.09 on Friday. The stock has a 50-day simple moving average of $33.66 and a 200-day simple moving average of $34.19. The stock has a market capitalization of $484.02 million, a P/E ratio of -144.38 and a beta of 1.18. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 EPS for the quarter, beating 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. Equities analysts forecast that Global Medical REIT will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a $0.75 dividend. The ex-dividend date was Friday, December 19th. This represents a $3.00 annualized dividend and a dividend yield of 8.3%. Global Medical REIT’s dividend payout ratio is -1,200.00%.

Insiders Place Their Bets

In other news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were purchased at an average price of $32.58 per share, with a total value of $325,800.00. Following the purchase, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. This represents a 28.76% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 8.50% of the company’s stock.

Institutional Trading of Global Medical REIT

Hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio boosted its holdings in Global Medical REIT by 3,810.1% in the second quarter. Strs Ohio now owns 426,200 shares of the company’s stock valued at $2,954,000 after purchasing an additional 415,300 shares during the last quarter. Gabelli Funds LLC acquired a new position in shares of Global Medical REIT in the 2nd quarter valued at approximately $2,829,000. Invesco Ltd. raised its position in shares of Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after purchasing an additional 355,355 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Global Medical REIT during the 3rd quarter valued at approximately $9,997,000. Finally, Marshall Wace LLP grew its position in shares of Global Medical REIT by 2,208.2% during the second 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 in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.