Global Medical REIT (NYSE:GMRE) Chairman Jeffrey Busch acquired 6,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average cost of $7.13 per share, for a total transaction of $42,780.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
GMRE stock traded down $0.03 during trading on Friday, reaching $6.97. The company had a trading volume of 102,242 shares, compared to its average volume of 172,479. The stock has a market capitalization of $151.41, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.03 and a beta of 0.46. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.91. Global Medical REIT has a twelve month low of $6.34 and a twelve month high of $10.25.
Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, March 7th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.15). The company had revenue of $9.87 million during the quarter, compared to analyst estimates of $10.33 million. Global Medical REIT had a negative return on equity of 0.88% and a negative net margin of 5.01%. equities research analysts expect that Global Medical REIT will post 0.76 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 11.48%. The ex-dividend date is Wednesday, March 21st. Global Medical REIT’s payout ratio is 148.15%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GMRE. SG Americas Securities LLC acquired a new stake in Global Medical REIT during the 3rd quarter valued at approximately $115,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $120,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $154,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Global Medical REIT in the 2nd quarter valued at $185,000. Finally, B. Riley Financial Inc. acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $229,000. Institutional investors and hedge funds own 44.72% of the company’s stock.
A number of brokerages have recently issued reports on GMRE. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Friday, December 22nd. TheStreet downgraded shares of Global Medical REIT from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. Finally, B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a research note on Thursday, March 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.70.
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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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