Analysts Set Global Medical REIT Inc. (NYSE:GMRE) Price Target at $41.50

Shares of Global Medical REIT Inc. (NYSE:GMRE) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $41.50.

Several brokerages have recently commented on GMRE. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Robert W. Baird decreased their price objective on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Zacks Research raised shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the stock a “market outperform” rating in a report on Monday, October 13th. Finally, Citigroup raised shares of Global Medical REIT to an “outperform” rating in a report on Monday, October 13th.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $35.00 on Friday. The company has a fifty day moving average price of $33.51 and a two-hundred day moving average price of $34.17. Global Medical REIT has a one year low of $29.05 and a one year high of $45.75. The stock has a market cap of $469.35 million, a P/E ratio of -140.00 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 (NYSE:GMRE) last issued its earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $37.23 million for 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. As a group, equities analysts predict that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a dividend of $0.75 per share. The ex-dividend date was Friday, December 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.6%. Global Medical REIT’s dividend payout ratio (DPR) is -1,200.00%.

Insiders Place Their Bets

In other news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of Global Medical REIT stock in a transaction that occurred on Friday, November 14th. The stock was acquired at an average cost of $32.58 per share, for a total transaction of $325,800.00. Following the purchase, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at $1,458,736.92. This trade represents a 28.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of Global Medical REIT by 3.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,748,799 shares of the company’s stock worth $12,121,000 after purchasing an additional 50,959 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Global Medical REIT by 30.5% in the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after buying an additional 355,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Global Medical REIT by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock valued at $10,499,000 after buying an additional 119,538 shares during the period. Man Group plc boosted its stake in shares of Global Medical REIT by 1.7% in the second quarter. Man Group plc now owns 600,943 shares of the company’s stock valued at $4,165,000 after buying an additional 10,192 shares during the period. Finally, Cutler Capital Management LLC grew its position in Global Medical REIT by 3.5% during the second quarter. Cutler Capital Management LLC now owns 472,938 shares of the company’s stock worth $3,277,000 after buying an additional 15,900 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

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.