Global Medical REIT (NYSE:GMRE) Reaches New 12-Month Low – Should You Sell?

Global Medical REIT Inc. (NYSE:GMRE)’s stock price reached a new 52-week low on Friday . The company traded as low as $7.33 and last traded at $7.52, with a volume of 1004388 shares. The stock had previously closed at $7.63.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GMRE. Berenberg Bank initiated coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners started coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Stock Performance

The company has a fifty day moving average of $8.41 and a two-hundred day moving average of $9.05. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $502.36 million, a price-to-earnings ratio of -375.81, a PEG ratio of 1.46 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million for the quarter, compared to analyst estimates 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 in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts predict that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 annualized dividend and a dividend yield of 11.17%. Global Medical REIT’s payout ratio is currently -4,200.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Zacks Investment Management raised its stake in Global Medical REIT by 12.9% during the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after buying an additional 1,696 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Global Medical REIT by 7.2% in the 2nd 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 last quarter. Creative Planning increased its holdings in shares of Global Medical REIT by 13.3% in the 3rd quarter. Creative Planning now owns 22,980 shares of the company’s stock worth $228,000 after buying an additional 2,702 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Global Medical REIT by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,186 shares of the company’s stock worth $438,000 after purchasing an additional 3,471 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its stake in shares of Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock worth $202,000 after purchasing an additional 4,164 shares during the period. 57.52% of the stock is owned by institutional investors.

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.