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

Shares of Global Medical REIT Inc. (NYSE:GMRE) have been given a consensus rating of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $41.50.

Several research firms recently commented on GMRE. JMP Securities set a $40.00 price target on shares of Global Medical REIT and gave the company a “market outperform” rating in a research note on Monday, October 13th. Robert W. Baird dropped their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Citigroup raised Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th.

Global Medical REIT Price Performance

Global Medical REIT stock opened at $36.69 on Thursday. The company has a market capitalization of $491.96 million, a price-to-earnings ratio of -146.74 and a beta of 1.18. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $45.75. The stock’s 50 day moving average is $34.65 and its 200-day moving average is $34.16.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.2%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s dividend payout ratio is -1,200.00%.

Insiders Place Their Bets

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 10,000 shares of Global Medical REIT stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $32.58 per share, with a total value of $325,800.00. Following the acquisition, the chief executive officer owned 44,774 shares in the company, valued at $1,458,736.92. This trade represents a 28.76% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 8.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd grew its holdings in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new position in Global Medical REIT during the 3rd quarter worth about $35,000. New York State Teachers Retirement System acquired a new position in Global Medical REIT during the 3rd quarter worth about $39,000. Tower Research Capital LLC TRC grew its position in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after buying an additional 3,046 shares during the last quarter. Finally, Metis Global Partners LLC acquired a new stake in shares of Global Medical REIT in the second quarter valued at about $72,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Company Profile

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.