Global Medical REIT Inc (GMRE) Receives $10.75 Average Target Price from Brokerages
Global Medical REIT Inc (NYSE:GMRE) has been given an average recommendation of “Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $10.45.
A number of research firms recently issued reports on GMRE. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a report on Thursday. B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a report on Wednesday, November 1st.
Several hedge funds have recently modified their holdings of the business. RMR Advisors LLC lifted its holdings in shares of Global Medical REIT by 169.0% in the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after buying an additional 216,943 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Global Medical REIT by 67.2% in the 4th quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after buying an additional 8,624 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Global Medical REIT by 37.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock worth $1,044,000 after buying an additional 31,900 shares during the period. Asset Management One Co. Ltd. lifted its holdings in shares of Global Medical REIT by 36,351.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 36,451 shares of the company’s stock worth $333,000 after buying an additional 36,351 shares during the period. Finally, Nomura Asset Management Co. Ltd. purchased a new stake in shares of Global Medical REIT in the 3rd quarter worth $120,000. Institutional investors and hedge funds own 41.07% of the company’s stock.
Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Thursday, November 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.10). Global Medical REIT had a negative net margin of 19.98% and a negative return on equity of 2.86%. sell-side analysts anticipate that Global Medical REIT will post 0.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 9.89%. The ex-dividend date of this dividend was Friday, December 22nd. Global Medical REIT’s dividend payout ratio is -296.30%.
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Global Medical REIT Company Profile
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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