Shares of Global Medical REIT Inc (NYSE:GMRE) have earned a consensus rating of "Buy" from the nine brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $14.58.
Several brokerages have recently commented on GMRE. ValuEngine raised shares of Global Medical REIT from a "sell" rating to a "hold" rating in a research report on Friday, August 7th. Berenberg Bank began coverage on shares of Global Medical REIT in a research report on Wednesday, July 1st. They set a "buy" rating and a $13.00 price objective for the company. Stifel Nicolaus reaffirmed a "buy" rating and set a $15.00 price objective on shares of Global Medical REIT in a research report on Tuesday, September 1st. Finally, Zacks Investment Research downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Tuesday, July 14th.
Shares of GMRE stock opened at $13.19 on Tuesday. The company has a market cap of $610.06 million, a price-to-earnings ratio of 164.90 and a beta of 0.75. Global Medical REIT has a 52 week low of $6.98 and a 52 week high of $15.95. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.15. The firm has a 50 day moving average of $13.15 and a 200-day moving average of $11.59.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 24th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 6.07%. The ex-dividend date of this dividend is Wednesday, September 23rd. Global Medical REIT's payout ratio is currently 106.67%.
In other Global Medical REIT news, Director Ronald Marston purchased 2,000 shares of Global Medical REIT stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $13.30 per share, with a total value of $26,600.00. Following the transaction, the director now owns 7,830 shares in the company, valued at approximately $104,139. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 9.40% of the company's stock.
A number of large investors have recently modified their holdings of GMRE. Bank of New York Mellon Corp lifted its stake in Global Medical REIT by 431.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,623,313 shares of the company's stock valued at $18,392,000 after acquiring an additional 1,317,662 shares in the last quarter. BlackRock Inc. raised its stake in shares of Global Medical REIT by 16.2% during the 1st quarter. BlackRock Inc. now owns 3,022,953 shares of the company's stock worth $30,593,000 after purchasing an additional 420,388 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Global Medical REIT by 38.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 657,297 shares of the company's stock worth $7,448,000 after purchasing an additional 183,442 shares during the period. State Street Corp raised its stake in shares of Global Medical REIT by 19.1% during the 1st quarter. State Street Corp now owns 939,428 shares of the company's stock worth $9,676,000 after purchasing an additional 150,706 shares during the period. Finally, Phocas Financial Corp. raised its stake in shares of Global Medical REIT by 31.0% during the 2nd quarter. Phocas Financial Corp. now owns 627,899 shares of the company's stock worth $7,114,000 after purchasing an additional 148,645 shares during the period. Institutional investors and hedge funds own 64.63% of the company's stock.
About Global Medical REIT
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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