Global Medical REIT (NYSE:GMRE) Sets New 52-Week Low – What’s Next?

Shares of Global Medical REIT Inc. (NYSE:GMRE) hit a new 52-week low during trading on Thursday . The stock traded as low as $7.95 and last traded at $7.95, with a volume of 872976 shares trading hands. The stock had previously closed at $8.12.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 target price for the company. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price objective for the company.

Global Medical REIT Trading Down 1.1 %

The company has a market capitalization of $525.07 million, a price-to-earnings ratio of -392.80, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The business’s 50-day simple moving average is $8.88 and its 200-day simple moving average is $9.18.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The business had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. During the same quarter in the previous year, the firm posted $0.23 EPS. On average, research analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 10.69%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s payout ratio is presently -4,200.00%.

Institutional Trading of Global Medical REIT

Several hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd acquired a new stake in Global Medical REIT during the 2nd quarter worth approximately $100,000. Quantinno Capital Management LP acquired a new stake in shares of Global Medical REIT during the third quarter worth $138,000. Zacks Investment Management lifted its position in Global Medical REIT by 12.9% in the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after acquiring an additional 1,696 shares in the last quarter. Intech Investment Management LLC acquired a new position in Global Medical REIT in the 3rd quarter worth $150,000. Finally, Versor Investments LP bought a new position in Global Medical REIT during the 3rd quarter worth about $189,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.