Global Medical REIT (NYSE:GMRE) Shares Gap Down to $10.16

Global Medical REIT Inc. (NYSE:GMRE) shares gapped down prior to trading on Friday . The stock had previously closed at $10.16, but opened at $9.88. Global Medical REIT shares last traded at $9.89, with a volume of 144,489 shares trading hands.

Analysts Set New Price Targets

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

Global Medical REIT Stock Down 1.1 %

The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a fifty day moving average price of $9.43 and a 200 day moving average price of $8.98. The firm has a market capitalization of $645.39 million, a price-to-earnings ratio of 44.22, a PEG ratio of 1.39 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.25). The firm 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 period in the prior year, the firm posted $0.23 earnings per share. As a group, sell-side analysts expect that Global Medical REIT Inc. will post 0.85 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be issued 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 yield of 8.54%. Global Medical REIT’s dividend payout ratio is presently 365.22%.

Hedge Funds Weigh In On Global Medical REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC raised its holdings in 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 purchasing an additional 1,504 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Global Medical REIT by 2.2% in the first 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 last quarter. Quadrant Capital Group LLC raised its holdings 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 worth $63,000 after acquiring an additional 1,666 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Global Medical REIT by 7.2% in the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock worth $273,000 after acquiring an additional 2,033 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised 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 worth $236,000 after acquiring an additional 2,146 shares during the last quarter. 57.52% of the stock is 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.