Global Medical REIT (NYSE:GMRE) Stock Rating Upgraded by Wall Street Zen

Global Medical REIT (NYSE:GMRE) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

Several other research analysts have also issued reports on GMRE. Citigroup raised Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Zacks Research raised Global Medical REIT from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Weiss Ratings reissued a “hold (c-)” rating on shares of Global Medical REIT in a report on Wednesday, October 8th. Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a report on Monday, October 13th. Finally, JMP Securities set a $40.00 price objective on Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Global Medical REIT presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Global Medical REIT Trading Down 2.0%

Shares of NYSE:GMRE opened at $31.91 on Friday. The business’s 50-day moving average is $35.03 and its 200 day moving average is $34.77. Global Medical REIT has a 1 year low of $30.09 and a 1 year high of $48.13. The firm has a market capitalization of $427.01 million, a P/E ratio of 91.19 and a beta of 1.19. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, August 5th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%.The company had revenue of $37.88 million for the quarter, compared to analyst estimates of $35.57 million. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. On average, research analysts predict that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT announced that its board has approved a stock repurchase program on Wednesday, August 13th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Global Medical REIT

Several hedge funds and other institutional investors have recently bought and sold shares of GMRE. State of Alaska Department of Revenue grew its holdings in shares of Global Medical REIT by 5.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 30,876 shares of the company’s stock worth $213,000 after purchasing an additional 1,510 shares during the period. Arrow Investment Advisors LLC grew its holdings in shares of Global Medical REIT by 10.8% during the 2nd quarter. Arrow Investment Advisors LLC now owns 22,232 shares of the company’s stock worth $154,000 after purchasing an additional 2,171 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in shares of Global Medical REIT by 2.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,000 shares of the company’s stock worth $610,000 after purchasing an additional 2,500 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares during the period. Finally, Intrua Financial LLC grew its holdings in shares of Global Medical REIT by 8.4% during the 1st quarter. Intrua Financial LLC now owns 48,600 shares of the company’s stock worth $425,000 after purchasing an additional 3,754 shares during the period. 57.52% of the stock is owned by institutional investors and hedge funds.

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.