Global Medical REIT Inc. (NYSE:GMRE) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Global Medical REIT Inc. has received a consensus recommendation of "Moderate Buy" from five brokerages, with an average 12-month price target of $49.58.
• The company recently declared a quarterly dividend of $0.75 per share, representing a 9.1% yield, which is an increase from the previous dividend of $0.15.
• Global Medical REIT initiated a $50 million share repurchase program, indicating that the company's leadership believes its stock is currently undervalued.

Shares of Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) have earned an average recommendation of "Moderate Buy" from the five brokerages that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $49.5833.

GMRE has been the topic of several research analyst reports. Weiss Ratings reiterated a "hold (c-)" rating on shares of Global Medical REIT in a research note on Saturday, September 27th. Zacks Research upgraded shares of Global Medical REIT from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 24th.

Global Medical REIT Stock Up 0.0%

NYSE:GMRE traded up $0.00 during midday trading on Friday, hitting $32.79. 155,869 shares of the company were exchanged, compared to its average volume of 137,276. The company has a fifty day simple moving average of $35.50 and a 200 day simple moving average of $35.73. Global Medical REIT has a fifty-two week low of $30.27 and a fifty-two week high of $48.13. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $438.78 million, a PE ratio of 93.70 and a beta of 1.19.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.15 EPS for the quarter, hitting the consensus estimate of $1.15. Global Medical REIT had a net margin of 7.32% and a return on equity of 2.21%. The firm 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. As a group, equities analysts anticipate that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its stock is undervalued.

Global Medical REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 9.1%. This is a positive change from Global Medical REIT's previous quarterly dividend of $0.15. The ex-dividend date is Monday, September 29th. Global Medical REIT's dividend payout ratio (DPR) is presently 857.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. boosted its holdings in Global Medical REIT by 61.5% during the second quarter. Osaic Holdings Inc. now owns 57,283 shares of the company's stock worth $401,000 after buying an additional 21,810 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Global Medical REIT during the second quarter worth about $78,000. State of Wyoming boosted its holdings in Global Medical REIT by 71.3% during the second quarter. State of Wyoming now owns 12,656 shares of the company's stock worth $88,000 after buying an additional 5,266 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Global Medical REIT by 9.6% during the second quarter. CANADA LIFE ASSURANCE Co now owns 85,740 shares of the company's stock worth $595,000 after buying an additional 7,500 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company's stock worth $51,000 after buying an additional 3,046 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.

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