Zacks Investment Research Lowers Global Medical REIT (GMRE) to Hold

Zacks Investment Research cut shares of Global Medical REIT (NYSE:GMRE) from a buy rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Global Medical REIT Inc. is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to clinical operators. Global Medical REIT Inc. is based in Denver, United States. “

Separately, B. Riley reiterated a buy rating and issued a $10.50 price target on shares of Global Medical REIT in a report on Friday, November 10th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $10.50.

Shares of Global Medical REIT (NYSE:GMRE) traded up $0.04 on Wednesday, hitting $7.87. The company had a trading volume of 115,620 shares, compared to its average volume of 132,372. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.72. The stock has a market cap of $169.37, a price-to-earnings ratio of -29.15, a P/E/G ratio of 1.27 and a beta of -0.04. Global Medical REIT has a twelve month low of $7.72 and a twelve month high of $10.25.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Thursday, November 9th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.10). Global Medical REIT had a negative return on equity of 2.86% and a negative net margin of 19.98%. equities research analysts forecast that Global Medical REIT will post 0.33 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, December 22nd. This represents a $0.80 annualized dividend and a dividend yield of 10.17%. Global Medical REIT’s dividend payout ratio is presently -296.30%.

Several hedge funds have recently modified their holdings of the company. Teachers Advisors LLC lifted its position in shares of Global Medical REIT by 5.0% during the second quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock worth $235,000 after purchasing an additional 1,243 shares during the last quarter. Northern Trust Corp lifted its position in shares of Global Medical REIT by 2.0% during the second quarter. Northern Trust Corp now owns 147,978 shares of the company’s stock worth $1,323,000 after purchasing an additional 2,873 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Global Medical REIT by 0.8% during the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock worth $4,667,000 after purchasing an additional 4,044 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Global Medical REIT by 20.6% during the second quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock worth $239,000 after purchasing an additional 4,589 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in shares of Global Medical REIT by 18.9% during the second quarter. Parametric Portfolio Associates LLC now owns 31,546 shares of the company’s stock worth $282,000 after purchasing an additional 5,017 shares during the last quarter. 41.02% of the stock is currently owned by institutional investors and hedge funds.

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Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

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