Global Medical REIT (NYSE:GMRE) Raised to Hold at Zacks Investment Research

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Zacks Investment Research upgraded shares of Global Medical REIT (NYSE:GMRE) from a strong sell rating to a hold rating in a report issued on Thursday morning, Zacks.com reports.

According to Zacks, “Global Medical REIT Inc. is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to clinical operators. Global Medical REIT Inc. is based in Denver, United States. “

Several other equities analysts have also issued reports on the company. Stifel Nicolaus started coverage on SkyWest in a research note on Monday, April 15th. They issued a buy rating and a $68.00 price target on the stock. TheStreet lowered Trade Desk from a b- rating to a c- rating in a research note on Thursday, May 9th. Boenning Scattergood set a $21.00 price target on Essential Properties Realty Trust and gave the company a buy rating in a research note on Friday, May 10th. Finally, ValuEngine lowered Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Global Medical REIT presently has an average rating of Buy and an average target price of $10.67.

Shares of GMRE opened at $10.78 on Thursday. Global Medical REIT has a 52-week low of $8.10 and a 52-week high of $11.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.08 and a current ratio of 0.08. The firm has a 50 day simple moving average of $10.78. The firm has a market capitalization of $361.91 million, a price-to-earnings ratio of 13.82, a PEG ratio of 1.56 and a beta of 0.42.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.18). Global Medical REIT had a net margin of 21.38% and a return on equity of 5.52%. The business had revenue of $15.20 million during the quarter, compared to analyst estimates of $15.32 million. As a group, equities research analysts expect that Global Medical REIT will post 0.77 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Wednesday, June 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 25th. This represents a $0.80 annualized dividend and a dividend yield of 7.42%. Global Medical REIT’s dividend payout ratio is 102.56%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Advantage Inc. bought a new stake in shares of Global Medical REIT during the first quarter valued at approximately $31,000. Daiwa Securities Group Inc. grew its holdings in Global Medical REIT by 100.0% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $37,000 after buying an additional 1,900 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Global Medical REIT by 639.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,782 shares of the company’s stock worth $47,000 after buying an additional 4,135 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in Global Medical REIT by 19.9% during the first quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock worth $72,000 after buying an additional 1,229 shares in the last quarter. Finally, Nisa Investment Advisors LLC bought a new stake in Global Medical REIT during the first quarter worth $85,000. Hedge funds and other institutional investors own 51.96% of the company’s stock.

Global Medical REIT Company Profile

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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