Global Medical REIT (NYSE:GMRE) Receives New Coverage from Analysts at Berenberg Bank

Berenberg Bank began coverage on shares of Global Medical REIT (NYSE:GMRE) in a research note released on Friday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $11.75 price objective on the stock.

Separately, Alliance Global Partners started coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Trading Up 1.2 %

Shares of NYSE GMRE opened at $9.59 on Friday. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The business has a fifty day moving average price of $9.47 and a 200 day moving average price of $9.10. The stock has a market capitalization of $628.99 million, a P/E ratio of 41.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). The firm had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same quarter in the prior year, the business posted $0.23 earnings per share. Equities research analysts expect that Global Medical REIT will post 0.85 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.76%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s payout ratio is currently 365.22%.

Institutional Trading of Global Medical REIT

Several large investors have recently bought and sold shares of GMRE. Tidal Investments LLC lifted its stake in shares of Global Medical REIT by 5.8% during the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after buying an additional 1,504 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Global Medical REIT by 2.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after acquiring an additional 1,592 shares during the period. Principal Financial Group Inc. grew its stake in Global Medical REIT by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after purchasing an additional 2,033 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Global Medical REIT by 8.6% in the first quarter. Oppenheimer & Co. Inc. now owns 26,988 shares of the company’s stock valued at $236,000 after purchasing an additional 2,146 shares during the period. Finally, Creative Planning raised its stake in shares of Global Medical REIT by 13.3% in the third quarter. Creative Planning now owns 22,980 shares of the company’s stock worth $228,000 after purchasing an additional 2,702 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Company Profile

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.