Global Medical REIT Inc. (NYSE:GMRE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Global Medical REIT Inc. (NYSE:GMRE) have earned an average recommendation of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $42.00.

A number of analysts have commented on the stock. Robert W. Baird lowered their target price on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st.

Global Medical REIT Trading Down 0.1%

GMRE opened at $35.96 on Monday. The firm has a 50 day simple moving average of $35.24 and a 200 day simple moving average of $34.40. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $45.75. The company has a market cap of $482.22 million, a price-to-earnings ratio of -143.84 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52.

Global Medical REIT Announces Dividend

The business also recently declared 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 of this dividend was Friday, December 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.3%. Global Medical REIT’s dividend payout ratio is -1,200.00%.

Hedge Funds Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in Global Medical REIT by 4.2% during the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after buying an additional 12,471 shares during the period. Mackenzie Financial Corp acquired a new stake in shares of Global Medical REIT during the fourth quarter worth $563,000. XTX Topco Ltd bought a new stake in Global Medical REIT in the 4th quarter valued at $515,000. Tudor Investment Corp ET AL bought a new stake in Global Medical REIT in the 4th quarter valued at $930,000. Finally, Clifford Capital Partners LLC boosted its stake in Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after purchasing an additional 3,504 shares during the period. 57.52% of the stock is owned by 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.