Global Medical REIT (NYSE:GMRE) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Global Medical REIT (NYSE:GMRE) has been upgraded to a strong-buy rating from Zacks Research, indicating increased analyst confidence in the stock.
• The company's recent quarterly earnings report showed $1.15 earnings per share (EPS), meeting consensus estimates, and revenue of $37.88 million, exceeding expectations.
• Global Medical REIT announced a share buyback program authorizing the repurchase of up to $50 million in shares, suggesting that the board believes the stock is currently undervalued.

Global Medical REIT (NYSE:GMRE - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

Global Medical REIT Stock Performance

Shares of GMRE opened at $33.60 on Wednesday. The company has a market cap of $449.58 million, a PE ratio of 96.01 and a beta of 1.16. 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 stock has a 50-day moving average price of $35.74 and a 200-day moving average price of $36.09. Global Medical REIT has a 12-month low of $30.27 and a 12-month high of $49.90.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.15 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.15. The firm had revenue of $37.88 million during the quarter, compared to the consensus estimate of $35.57 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. As a group, equities analysts forecast that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT announced that its board has authorized a share buyback program on Wednesday, August 13th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to buy up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Global Medical REIT

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in Global Medical REIT by 70.3% in the 2nd 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 during the last quarter. GAMMA Investing LLC increased its stake in Global Medical REIT by 11,234.4% in the 1st quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock worth $63,000 after purchasing an additional 7,190 shares during the period. State of Wyoming purchased a new position in Global Medical REIT in the 1st quarter worth approximately $65,000. Metis Global Partners LLC purchased a new position in Global Medical REIT in the 2nd quarter worth approximately $72,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Global Medical REIT in the 2nd quarter worth approximately $78,000. Institutional investors own 57.52% of the company's stock.

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.

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