Global Medical REIT (NYSE:GMRE) Stock Rating Upgraded by Citizens Jmp

Key Points

• Citizens Jmp upgraded Global Medical REIT's stock rating from "market perform" to "outperform," setting a price target of $40.00, indicating a potential upside of 29.91%.
• Global Medical REIT reported a quarterly earnings per share of $1.15, meeting analysts' expectations and generating revenue of $37.88 million for the period.
• The company initiated a stock repurchase plan authorizing up to $50 million to buy back shares, signaling management's belief that the stock is currently undervalued.

Global Medical REIT (NYSE:GMRE - Get Free Report) was upgraded by analysts at Citizens Jmp from a "market perform" rating to an "outperform" rating in a research note issued on Monday,Finviz reports. The brokerage currently has a $40.00 price objective on the stock. Citizens Jmp's price objective points to a potential upside of 29.91% from the stock's current price.

A number of other equities analysts have also weighed in on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Global Medical REIT in a report on Wednesday, October 8th. JMP Securities set a $40.00 price objective on shares of Global Medical REIT in a report on Monday. Citigroup raised shares of Global Medical REIT to an "outperform" rating in a research report on Monday. Finally, Zacks Research raised shares of Global Medical REIT from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $45.75.

Global Medical REIT Price Performance

Shares of NYSE GMRE opened at $30.79 on Monday. 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 firm has a market cap of $411.85 million, a price-to-earnings ratio of 87.97 and a beta of 1.19. Global Medical REIT has a 1-year low of $30.09 and a 1-year high of $48.13. The stock has a fifty day simple moving average of $35.16 and a two-hundred day simple moving average of $35.15.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.15 earnings per share for the quarter, hitting analysts' consensus estimates of $1.15. Global Medical REIT had a net margin of 7.32% and a return on equity of 2.21%. The company had revenue of $37.88 million during 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. Analysts anticipate that Global Medical REIT will post 0.81 earnings per share for the current year.

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

Institutional Trading of Global Medical REIT

Large investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Global Medical REIT by 11,234.4% during 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. Tower Research Capital LLC TRC increased its holdings in shares of 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 valued at $51,000 after purchasing an additional 3,046 shares in the last quarter. State of Wyoming purchased a new position in Global Medical REIT during the 1st quarter valued at about $65,000. Metis Global Partners LLC purchased a new position in Global Medical REIT during the 2nd quarter valued at about $72,000. Finally, Strs Ohio purchased a new stake in shares of Global Medical REIT during the first quarter worth about $95,000. Institutional investors and hedge funds own 57.52% of the company's stock.

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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