Global Medical REIT Inc. (NYSE:GMRE) Receives $41.50 Consensus Target Price from Brokerages

Shares of Global Medical REIT Inc. (NYSE:GMRE) have been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $41.50.

Several brokerages recently weighed in on GMRE. Robert W. Baird reduced their price target on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Zacks Research raised Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Weiss Ratings restated a “sell (d+)” rating on shares of Global Medical REIT in a research note on Wednesday, November 19th. Finally, JMP Securities set a $40.00 price objective on Global Medical REIT and gave the stock a “market outperform” rating in a research report on Monday, October 13th.

Insider Activity at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was purchased at an average cost of $32.58 per share, with a total value of $325,800.00. Following the completion of the acquisition, the chief executive officer directly owned 44,774 shares in the company, valued at $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 8.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Strs Ohio boosted its position in shares of Global Medical REIT by 3,810.1% in the 2nd quarter. Strs Ohio now owns 426,200 shares of the company’s stock worth $2,954,000 after buying an additional 415,300 shares in the last quarter. Gabelli Funds LLC purchased a new position in Global Medical REIT in the second quarter valued at about $2,829,000. Invesco Ltd. lifted its position in shares of Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after purchasing an additional 355,355 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Global Medical REIT during the third quarter worth about $9,997,000. Finally, Marshall Wace LLP grew its position in shares of Global Medical REIT by 2,208.2% during the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after buying an additional 279,070 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Stock Down 1.3%

Shares of GMRE stock opened at $31.70 on Friday. The company has a market cap of $425.10 million, a price-to-earnings ratio of -126.80 and a beta of 1.17. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $45.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. The stock’s fifty day moving average price is $32.67 and its 200 day moving average price is $33.70.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. Global Medical REIT had a net margin of 0.79% and a return on equity of 0.25%. The business had revenue of $37.23 million during the quarter, compared to analysts’ expectations of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. On average, research analysts expect that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT announced that its Board of Directors has approved a share repurchase plan on Wednesday, August 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to repurchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Global Medical REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th were paid a $0.75 dividend. This is a boost from Global Medical REIT’s previous quarterly dividend of $0.15. This represents a $3.00 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date was Monday, September 29th. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

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.