Cantor Fitzgerald started coverage on shares of Global Medical REIT (NYSE:GMRE) in a research note published on Wednesday morning. The brokerage issued a buy rating and a $12.00 target price on the stock.
“GMRE reported in-line 4Q17 results in a relatively clean but active quarter in terms of M&A and balance sheet developments.”,” Cantor Fitzgerald’s analyst wrote.
A number of other equities research analysts have also commented on GMRE. Zacks Investment Research lowered shares of Global Medical REIT from a hold rating to a sell rating in a report on Tuesday, November 7th. B. Riley reissued a buy rating and set a $10.50 price objective on shares of Global Medical REIT in a report on Friday, November 10th. Finally, TheStreet lowered shares of Global Medical REIT from a c- rating to a d rating in a report on Thursday, February 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $10.10.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Stockholders of record on Thursday, March 22nd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.30%. The ex-dividend date is Wednesday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is presently -470.56%.
Hedge funds and other institutional investors have recently modified their holdings of the company. D.A. Davidson & CO. boosted its stake in shares of Global Medical REIT by 36.0% in the 3rd quarter. D.A. Davidson & CO. now owns 104,430 shares of the company’s stock valued at $937,000 after purchasing an additional 27,667 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of Global Medical REIT by 23.1% in the 3rd quarter. BB&T Securities LLC now owns 91,487 shares of the company’s stock valued at $821,000 after purchasing an additional 17,145 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Global Medical REIT by 37.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock valued at $1,044,000 after purchasing an additional 31,900 shares during the last quarter. RMR Advisors LLC boosted its stake in shares of Global Medical REIT by 169.0% in the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock valued at $2,832,000 after purchasing an additional 216,943 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of Global Medical REIT in the 2nd quarter valued at about $339,000. 44.55% of the stock is currently owned by institutional investors.
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About Global Medical REIT
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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