Global Medical REIT (NYSE:GMRE) Hits New 52-Week Low – What’s Next?

Global Medical REIT Inc. (NYSE:GMRE) reached a new 52-week low on Thursday . The stock traded as low as $7.95 and last traded at $7.95, with a volume of 872976 shares. The stock had previously closed at $8.12.

Wall Street Analyst Weigh In

Several research analysts have recently commented on GMRE shares. Berenberg Bank started coverage on Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners assumed coverage on Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price for the company.

Global Medical REIT Trading Down 2.1 %

The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The business’s fifty day moving average is $8.93 and its two-hundred day moving average is $9.20. The firm has a market cap of $531.08 million, a price-to-earnings ratio of -397.30, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to analyst estimates of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period last year, the business posted $0.23 earnings per share. Equities analysts anticipate that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.57%. Global Medical REIT’s dividend payout ratio is currently -4,200.00%.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its holdings in Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after buying an additional 80,030 shares during the last quarter. Barclays PLC raised its position in shares of Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after acquiring an additional 71,704 shares during the period. First Dallas Securities Inc. boosted its stake in Global Medical REIT by 28.0% during the 3rd quarter. First Dallas Securities Inc. now owns 45,750 shares of the company’s stock worth $453,000 after acquiring an additional 10,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in Global Medical REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock valued at $16,078,000 after purchasing an additional 18,209 shares during the period. Finally, Zacks Investment Management grew its holdings in Global Medical REIT by 12.9% during the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after purchasing an additional 1,696 shares during the period. 57.52% of the stock is owned by 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.