Global Medical REIT (NYSE:GMRE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Medical REIT (NYSE:GMRE) from a sell rating to a hold rating in a report published on Saturday.

GMRE has been the topic of several other research reports. Citigroup raised shares of Global Medical REIT to an “outperform” rating in a report on Monday, October 13th. JMP Securities set a $40.00 price target on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research note on Monday, October 13th. Zacks Research raised shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Global Medical REIT presently has an average rating of “Moderate Buy” and an average target price of $42.50.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $31.88 on Friday. The company has a market capitalization of $426.53 million, a price-to-earnings ratio of 91.08 and a beta of 1.19. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.56. The stock’s 50-day simple moving average is $35.02 and its 200-day simple moving average is $34.72. Global Medical REIT has a 52 week low of $30.09 and a 52 week high of $48.05.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Tuesday, August 5th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.15. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%.The firm had revenue of $37.88 million during the quarter, compared to analysts’ expectations of $35.57 million. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. As a group, analysts expect that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Monday, September 29th were given a $0.75 dividend. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.15. This represents a $3.00 annualized dividend and a yield of 9.4%. The ex-dividend date was Monday, September 29th. Global Medical REIT’s dividend payout ratio (DPR) is 857.14%.

Global Medical REIT announced that its board has initiated a stock repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Global Medical REIT

A number of institutional investors have recently bought and sold shares of GMRE. State of Alaska Department of Revenue grew its holdings in Global Medical REIT by 5.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,876 shares of the company’s stock worth $213,000 after acquiring an additional 1,510 shares in the last quarter. Arrow Investment Advisors LLC lifted its position in shares of Global Medical REIT by 10.8% in the 2nd quarter. Arrow Investment Advisors LLC now owns 22,232 shares of the company’s stock worth $154,000 after purchasing an additional 2,171 shares during the period. Nomura Asset Management Co. Ltd. boosted its stake in shares of Global Medical REIT by 2.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 88,000 shares of the company’s stock valued at $610,000 after purchasing an additional 2,500 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after buying an additional 3,046 shares during the period. Finally, Intrua Financial LLC raised its stake in Global Medical REIT by 8.4% in the first quarter. Intrua Financial LLC now owns 48,600 shares of the company’s stock worth $425,000 after buying an additional 3,754 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors.

About Global Medical REIT

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.