Alliance Global Partners Begins Coverage on Global Medical REIT (NYSE:GMRE)

Alliance Global Partners initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a research report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $12.00 price objective on the stock.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $10.17 on Thursday. The firm has a market cap of $667.03 million, a PE ratio of 44.22, a P/E/G ratio of 1.39 and a beta of 1.24. The business has a 50-day moving average price of $9.43 and a 200 day moving average price of $8.98. 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 has a twelve month low of $7.98 and a twelve month high of $11.59.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. The business had revenue of $34.24 million for the quarter, compared to analyst estimates of $35.24 million. During the same period in the previous year, the company earned $0.23 earnings per share. Sell-side analysts predict that Global Medical REIT will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 8.26%. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors have recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of Global Medical REIT by 41.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after acquiring an additional 1,666 shares in the last quarter. Creekmur Asset Management LLC purchased a new position in Global Medical REIT in the 4th quarter valued at $92,000. Gordian Capital Singapore Pte Ltd acquired a new stake in Global Medical REIT during the 2nd quarter worth $100,000. M&G Plc purchased a new stake in shares of Global Medical REIT during the first quarter worth $141,000. Finally, BTC Capital Management Inc. acquired a new stake in shares of Global Medical REIT in the first quarter valued at about $143,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.