Global Medical REIT (GMRE) Upgraded by TheStreet to “C-“

TheStreet upgraded shares of Global Medical REIT (NYSE:GMRE) from a d rating to a c- rating in a research report sent to investors on Friday morning.

A number of other equities analysts also recently weighed in on the stock. Boenning Scattergood reaffirmed a neutral rating on shares of Global Medical REIT in a research note on Friday. Zacks Investment Research downgraded shares of Global Medical REIT from a buy rating to a sell rating in a research note on Friday, May 11th. B. Riley dropped their price target on shares of Global Medical REIT from $10.50 to $10.00 and set a buy rating on the stock in a research note on Thursday, May 10th. DA Davidson raised shares of Global Medical REIT from a neutral rating to a buy rating and set a $8.00 price target on the stock in a research note on Wednesday, March 28th. Finally, Cantor Fitzgerald assumed coverage on shares of Global Medical REIT in a research note on Wednesday, March 7th. They issued a buy rating and a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $10.05.

GMRE opened at $8.70 on Friday. The firm has a market capitalization of $191.65 million, a PE ratio of 16.11, a price-to-earnings-growth ratio of 1.19 and a beta of 0.49. Global Medical REIT has a 12-month low of $6.34 and a 12-month high of $9.83. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.31.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%. The company had revenue of $11.56 million during the quarter, compared to analyst estimates of $11.50 million. sell-side analysts anticipate that Global Medical REIT will post 0.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Tuesday, June 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 9.20%. The ex-dividend date of this dividend is Monday, June 25th. Global Medical REIT’s payout ratio is 148.15%.

A number of institutional investors have recently bought and sold shares of the business. Teachers Insurance & Annuity Association of America increased its position in Global Medical REIT by 53.3% during the first quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock worth $153,000 after buying an additional 7,627 shares during the last quarter. SG Americas Securities LLC increased its position in Global Medical REIT by 67.2% during the fourth quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after buying an additional 8,624 shares during the last quarter. Geode Capital Management LLC increased its position in Global Medical REIT by 10.5% during the fourth quarter. Geode Capital Management LLC now owns 141,586 shares of the company’s stock worth $1,161,000 after buying an additional 13,441 shares during the last quarter. A.R.T. Advisors LLC increased its position in Global Medical REIT by 126.4% during the first quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock worth $195,000 after buying an additional 15,703 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in Global Medical REIT by 17.6% during the first quarter. D.A. Davidson & CO. now owns 127,356 shares of the company’s stock worth $885,000 after buying an additional 19,021 shares during the last quarter. 38.80% of the stock is currently owned by hedge funds and other institutional investors.

Global Medical REIT Company Profile

Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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