Global Medical REIT Inc (GMRE) Receives $9.76 Consensus Target Price from Analysts

Shares of Global Medical REIT Inc (NYSE:GMRE) have received a consensus recommendation of “Buy” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $10.34.

Several brokerages have recently commented on GMRE. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. B. Riley set a $11.00 target price on shares of Global Medical REIT and gave the company a “buy” rating in a report on Friday, March 8th. Boenning Scattergood reiterated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Finally, Janney Montgomery Scott downgraded shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 target price for the company. in a report on Wednesday, December 19th.

In related news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.75, for a total transaction of $57,963.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 13.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of GMRE. State of New Jersey Common Pension Fund D increased its holdings in Global Medical REIT by 34.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 588,000 shares of the company’s stock worth $5,227,000 after buying an additional 150,000 shares during the last quarter. LSV Asset Management purchased a new stake in Global Medical REIT during the fourth quarter worth about $1,283,000. Rhumbline Advisers increased its holdings in Global Medical REIT by 234.8% during the fourth quarter. Rhumbline Advisers now owns 75,223 shares of the company’s stock worth $669,000 after buying an additional 52,755 shares during the last quarter. PVG Asset Management Corp purchased a new stake in Global Medical REIT during the fourth quarter worth about $440,000. Finally, Hound Partners LLC purchased a new stake in Global Medical REIT during the fourth quarter worth about $436,000. Institutional investors and hedge funds own 42.09% of the company’s stock.

Shares of GMRE stock traded down $0.02 on Friday, hitting $9.82. The stock had a trading volume of 525,254 shares, compared to its average volume of 329,242. The company has a market cap of $257.54 million, a P/E ratio of 12.59, a P/E/G ratio of 1.28 and a beta of 0.62. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.11 and a quick ratio of 0.11. Global Medical REIT has a 12-month low of $6.72 and a 12-month high of $11.02.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Thursday, March 7th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. The company had revenue of $14.38 million during the quarter, compared to the consensus estimate of $14.46 million. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%. As a group, research analysts expect that Global Medical REIT will post 0.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Tuesday, March 26th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 8.15%. Global Medical REIT’s dividend payout ratio (DPR) is presently 102.56%.

Global Medical REIT Company Profile

Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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