Global Medical REIT (NYSE:GMRE) Research Coverage Started at Alliance Global Partners

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

Global Medical REIT Trading Down 2.3 %

GMRE opened at $9.72 on Thursday. The stock has a market capitalization of $637.52 million, a PE ratio of 42.26, a P/E/G ratio of 1.39 and a beta of 1.24. The firm’s fifty day moving average price is $9.43 and its 200 day moving average price is $8.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. Global Medical REIT has a 12-month low of $7.98 and a 12-month high of $11.59.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results 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 company had revenue of $34.24 million during the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, research analysts expect that Global Medical REIT will post 0.85 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 8.64%. Global Medical REIT’s dividend payout ratio is currently 365.22%.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors have recently modified their holdings of the company. LSV Asset Management grew its position in Global Medical REIT by 114.0% in the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock valued at $9,088,000 after buying an additional 553,408 shares in the last quarter. Bank of New York Mellon Corp grew its position in Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after buying an additional 520,583 shares in the last quarter. Wellington Management Group LLP bought a new position in Global Medical REIT in the 4th quarter valued at about $3,475,000. Price T Rowe Associates Inc. MD grew its position in Global Medical REIT by 788.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after buying an additional 115,866 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Global Medical REIT by 10.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after buying an additional 97,630 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

About Global Medical REIT

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.