Global Medical REIT (NYSE:GMRE) Announces Earnings Results

Key Points

• Global Medical REIT reported a quarterly earnings of $0.23 per share, matching analysts' expectations, and has updated its FY 2025 guidance to an EPS range of 0.890-0.930.
• The company announced a reduction in its dividend payout ratio, which currently stands at 2,000%, with the latest quarterly dividend being $0.15.
• In insider trading, CEO Mark Okey Decker, Jr. acquired 57,332 shares at $6.50 each, increasing his shareholding significantly to a total of approximately $1,040,000.

Global Medical REIT (NYSE:GMRE - Get Free Report) released its quarterly earnings data on Tuesday. The company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23, Zacks reports. The business had revenue of $37.88 million for the quarter, compared to the consensus estimate of $35.57 million. Global Medical REIT had a net margin of 7.32% and a return on equity of 2.18%. Global Medical REIT updated its FY 2025 guidance to 0.890-0.930 EPS.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock traded down $0.07 on Friday, reaching $6.60. The stock had a trading volume of 777,824 shares, compared to its average volume of 624,979. Global Medical REIT has a 1 year low of $6.05 and a 1 year high of $10.46. The company has a market cap of $441.40 million, a P/E ratio of 94.29, a price-to-earnings-growth ratio of 1.12 and a beta of 1.15. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44. The business's 50 day moving average is $6.75 and its two-hundred day moving average is $7.45.

Global Medical REIT Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.1%. Global Medical REIT's payout ratio is 857.14%.

Insider Activity

In other news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of the stock in a transaction dated Wednesday, June 25th. The shares were purchased at an average cost of $6.50 per share, with a total value of $372,658.00. Following the completion of the acquisition, the chief executive officer owned 160,000 shares in the company, valued at $1,040,000. This represents a 55.84% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 8.50% of the company's stock.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently modified their holdings of GMRE. Goldman Sachs Group Inc. lifted its holdings in shares of Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock worth $3,400,000 after buying an additional 45,243 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Global Medical REIT by 23,920.0% in the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company's stock worth $210,000 after buying an additional 23,920 shares in the last quarter. Strs Ohio purchased a new stake in shares of Global Medical REIT in the first quarter worth about $95,000. Envestnet Asset Management Inc. lifted its holdings in shares of Global Medical REIT by 39.5% in the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company's stock worth $184,000 after buying an additional 7,536 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company's stock worth $512,000 after purchasing an additional 5,062 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on GMRE. Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Robert W. Baird dropped their price objective on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $10.44.

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.