Wall Street Zen Downgrades Global Medical REIT (NYSE:GMRE) to Sell

Wall Street Zen cut shares of Global Medical REIT (NYSE:GMRE - Free Report) from a hold rating to a sell rating in a report published on Thursday morning.

Several other equities analysts also recently commented on GMRE. Robert W. Baird decreased 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. B. Riley began coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $10.44.

Global Medical REIT Stock Performance

NYSE GMRE traded up $0.05 on Thursday, hitting $6.21. 540,674 shares of the stock were exchanged, compared to its average volume of 463,367. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The business's fifty day moving average is $7.56 and its 200 day moving average is $8.04. Global Medical REIT has a 52 week low of $6.06 and a 52 week high of $10.46. The company has a market capitalization of $415.47 million, a PE ratio of -310.49, a P/E/G ratio of 1.43 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.22. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.60 million for the quarter, compared to analyst estimates of $35.49 million. Research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were issued a $0.21 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 13.52%. Global Medical REIT's dividend payout ratio is currently 2,800.00%.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently modified their holdings of GMRE. Quarry LP grew its stake in shares of Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company's stock valued at $38,000 after acquiring an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock valued at $48,000 after acquiring an additional 2,301 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock valued at $63,000 after acquiring an additional 7,190 shares in the last quarter. State of Wyoming acquired a new position in shares of Global Medical REIT in the first quarter valued at about $65,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Global Medical REIT in the fourth quarter valued at about $82,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.