Global Medical REIT (NYSE:GMRE) Now Covered by Analysts at Alliance Global Partners

Alliance Global Partners started coverage on shares of Global Medical REIT (NYSE:GMRE) in a research report released on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $12.00 price objective on the stock.

Global Medical REIT Stock Down 4.3 %

Shares of GMRE stock opened at $9.72 on Thursday. The stock has a market cap of $637.52 million, a P/E ratio of 42.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a fifty day moving average price of $9.43 and a 200 day moving average price of $8.99. Global Medical REIT has a one year low of $7.98 and a one year high of $11.59.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The business had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. During the same period in the previous year, the firm earned $0.23 EPS. Analysts predict that Global Medical REIT will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

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

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tidal Investments LLC increased its stake in Global Medical REIT by 5.8% in the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock valued at $241,000 after purchasing an additional 1,504 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in Global Medical REIT by 2.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after buying an additional 1,592 shares during the period. Quadrant Capital Group LLC lifted its holdings in Global Medical REIT by 41.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock worth $63,000 after acquiring an additional 1,666 shares in the last quarter. Principal Financial Group Inc. grew its stake in Global Medical REIT by 7.2% in the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after acquiring an additional 2,033 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Global Medical REIT by 8.6% in the first quarter. Oppenheimer & Co. Inc. now owns 26,988 shares of the company’s stock worth $236,000 after acquiring an additional 2,146 shares in the last quarter. 57.52% of the stock is owned by institutional investors.

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.