Global Medical REIT Inc (NYSE:GMRE) Receives $10.61 Consensus Target Price from Analysts

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Shares of Global Medical REIT Inc (NYSE:GMRE) have earned a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $10.61.

Several research analysts have issued reports on the company. ValuEngine lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded Global Medical REIT from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 11th. Finally, TheStreet lowered Global Medical REIT from a “b” rating to a “c+” rating in a research note on Thursday, August 8th.

In other Global Medical REIT news, Director Ronald Marston bought 3,000 shares of the stock in a transaction dated Monday, August 26th. The stock was bought at an average cost of $10.70 per share, for a total transaction of $32,100.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 11.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. United Services Automobile Association increased its position in Global Medical REIT by 98.9% in the second quarter. United Services Automobile Association now owns 260,646 shares of the company’s stock worth $2,737,000 after purchasing an additional 129,600 shares during the period. Nuveen Asset Management LLC acquired a new stake in Global Medical REIT in the second quarter worth about $4,171,000. Victory Capital Management Inc. acquired a new stake in Global Medical REIT in the second quarter worth about $917,000. Vanguard Group Inc. increased its position in Global Medical REIT by 22.7% in the second quarter. Vanguard Group Inc. now owns 1,974,041 shares of the company’s stock worth $20,727,000 after purchasing an additional 364,967 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in Global Medical REIT in the second quarter worth about $234,000. Institutional investors own 46.97% of the company’s stock.

Global Medical REIT stock traded down $0.20 during mid-day trading on Friday, hitting $11.46. 455,722 shares of the company were exchanged, compared to its average volume of 197,048. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 1.13. The business has a fifty day moving average of $10.76 and a 200 day moving average of $10.47. Global Medical REIT has a 1-year low of $8.15 and a 1-year high of $11.68. The company has a market capitalization of $406.36 million, a PE ratio of 14.69 and a beta of 0.38.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). Global Medical REIT had a return on equity of 5.91% and a net margin of 24.11%. The company had revenue of $16.88 million for the quarter, compared to analyst estimates of $16.74 million. Research analysts expect that Global Medical REIT will post 0.74 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 25th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, September 24th. This represents a yield of 7.1%. Global Medical REIT’s dividend payout ratio is currently 102.56%.

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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Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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