Global Medical REIT (NYSE:GMRE) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Global Medical REIT (NYSE:GMRE – Get Rating) in a report released on Thursday. The brokerage issued a hold rating on the stock.

Separately, B. Riley lowered their price objective on shares of Global Medical REIT from $14.00 to $12.00 and set a buy rating on the stock in a research report on Monday, March 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Global Medical REIT presently has a consensus rating of Hold and a consensus target price of $14.50.

Global Medical REIT Stock Performance

Shares of GMRE opened at $8.83 on Thursday. The company’s 50 day moving average price is $10.39 and its 200 day moving average price is $9.71. Global Medical REIT has a 52 week low of $7.01 and a 52 week high of $16.47. The company has a market capitalization of $578.63 million, a PE ratio of 44.15, a PEG ratio of 1.26 and a beta of 1.05. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.20 and a current ratio of 0.20.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 11th. Shareholders of record on Friday, March 24th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 9.51%. The ex-dividend date of this dividend is Thursday, March 23rd. Global Medical REIT’s dividend payout ratio (DPR) is presently 420.02%.

Institutional Trading of Global Medical REIT

A number of institutional investors have recently added to or reduced their stakes in the business. Toroso Investments LLC lifted its stake in Global Medical REIT by 5.9% in the fourth quarter. Toroso Investments LLC now owns 20,682 shares of the company’s stock valued at $196,000 after acquiring an additional 1,149 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Global Medical REIT by 2.7% in the third quarter. The Manufacturers Life Insurance Company now owns 45,209 shares of the company’s stock valued at $385,000 after acquiring an additional 1,197 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Global Medical REIT by 10.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,283 shares of the company’s stock valued at $125,000 after acquiring an additional 1,210 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in Global Medical REIT by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 63,528 shares of the company’s stock valued at $602,000 after acquiring an additional 1,280 shares during the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Global Medical REIT by 5.6% in the fourth quarter. Truist Financial Corp now owns 27,531 shares of the company’s stock worth $261,000 after buying an additional 1,459 shares during the last quarter. 65.08% of the stock is currently owned by institutional investors and hedge funds.

About Global Medical REIT

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Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.