Global Medical REIT (NYSE:GMRE) Stock Price Down 5.8% - What's Next?

Key Points

• Global Medical REIT's stock price fell by 5.8% to close at $35.76, with a significant decline in trading volume of 29% compared to the average daily volume.
• The company recently increased its quarterly dividend to $0.75 per share, representing a yield of 8.3%, while announcing a payout ratio of 857.14%.
• Global Medical REIT's CEO, Mark Okey Decker, Jr., significantly increased his stake in the company, acquiring 11,466 shares, indicating confidence in the firm's future prospects.

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) shares dropped 5.8% on Tuesday . The company traded as low as $36.43 and last traded at $35.76. Approximately 90,945 shares changed hands during mid-day trading, a decline of 29% from the average daily volume of 127,772 shares. The stock had previously closed at $37.95.

Global Medical REIT Price Performance

The company has a fifty day moving average price of $35.82 and a two-hundred day moving average price of $36.19. The firm has a market capitalization of $2.41 billion, a PE ratio of 515.14 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.

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

Global Medical REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 8.3%. 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 payout ratio is 857.14%.

Global Medical REIT announced that its board has initiated a share repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. acquired 11,466 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was bought at an average price of $32.50 per share, with a total value of $372,645.00. Following the completion of the transaction, the chief executive officer directly owned 32,000 shares of the company's stock, valued at approximately $1,040,000. The trade was a 55.84% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 8.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its stake in Global Medical REIT by 8.5% during the 1st quarter. D.A. Davidson & CO. now owns 494,238 shares of the company's stock worth $4,325,000 after buying an additional 38,577 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Global Medical REIT by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company's stock worth $13,564,000 after acquiring an additional 144,671 shares during the period. Deutsche Bank AG grew its position in Global Medical REIT by 76.6% in the first quarter. Deutsche Bank AG now owns 80,435 shares of the company's stock worth $704,000 after buying an additional 34,891 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Global Medical REIT by 11,234.4% during the first 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. Finally, Two Sigma Investments LP raised its holdings in shares of Global Medical REIT by 84.3% during the fourth quarter. Two Sigma Investments LP now owns 347,113 shares of the company's stock valued at $2,680,000 after acquiring an additional 158,809 shares during the period. 57.52% of the stock is currently 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.

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