Global Medical REIT (NYSE:GMRE) Reaches New 1-Year Low – Time to Sell?

Global Medical REIT Inc. (NYSE:GMRE)’s stock price reached a new 52-week low on Friday . The stock traded as low as $7.67 and last traded at $7.67, with a volume of 186429 shares traded. The stock had previously closed at $7.82.

Wall Street Analyst Weigh In

GMRE has been the subject of a number of recent analyst reports. Alliance Global Partners assumed coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company. Berenberg Bank initiated coverage on shares of Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Trading Down 2.9 %

The firm has a market capitalization of $507.03 million, a P/E ratio of -379.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The stock has a 50-day simple moving average of $8.75 and a two-hundred day simple moving average of $9.15. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The business had revenue of $34.26 million during the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same period last year, the company earned $0.23 earnings per share. On average, equities research analysts anticipate that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 11.07%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s payout ratio is -4,200.00%.

Institutional Trading of Global Medical REIT

A number of hedge funds have recently bought and sold shares of GMRE. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Global Medical REIT in the 2nd quarter valued at $100,000. Quantinno Capital Management LP bought a new stake in Global Medical REIT during the third quarter valued at about $138,000. Zacks Investment Management boosted its position 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 in the last quarter. Intech Investment Management LLC purchased a new position in Global Medical REIT in the third quarter valued at about $150,000. Finally, Versor Investments LP bought a new position in Global Medical REIT in the third quarter worth about $189,000. Hedge funds and other institutional investors own 57.52% of the company’s stock.

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.