Global Medical REIT (NYSE:GMRE) Research Coverage Started at Berenberg Bank

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

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

Global Medical REIT Trading Down 2.6 %

Shares of GMRE opened at $9.34 on Friday. Global Medical REIT has a 52-week low of $7.98 and a 52-week high of $11.59. The stock has a market cap of $612.59 million, a PE ratio of 40.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The firm’s fifty day moving average is $9.48 and its two-hundred day moving average is $9.12. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20.

Global Medical REIT (NYSE:GMRE) last posted 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 business had revenue of $34.24 million for the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same quarter in the previous year, the firm posted $0.23 earnings per share. Research analysts forecast that Global Medical REIT will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 8.99%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GMRE. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Global Medical REIT during the 2nd quarter worth $100,000. M&G Plc purchased a new position in Global Medical REIT during the first quarter worth about $141,000. BTC Capital Management Inc. acquired a new stake in shares of Global Medical REIT during the first quarter valued at about $143,000. SG Americas Securities LLC raised its stake in shares of Global Medical REIT by 90.1% in the 3rd quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock valued at $225,000 after acquiring an additional 10,759 shares during the period. Finally, Creative Planning lifted its holdings in shares of Global Medical REIT by 13.3% in the 3rd quarter. Creative Planning now owns 22,980 shares of the company’s stock worth $228,000 after acquiring an additional 2,702 shares during the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.