Weiss Ratings Reaffirms "Hold (C-)" Rating for Global Medical REIT (NYSE:GMRE)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C-)" rating for Global Medical REIT (NYSE:GMRE), while Zacks Research upgraded it to a "Strong Buy" rating.
• The stock opened at $30.73, with a one-year low of $30.09 and a high of $48.13, and has a market capitalization of $411.17 million.
• Global Medical REIT's board has authorized a stock buyback plan of $50 million, which typically indicates that the company's leadership believes its stock is undervalued.

Global Medical REIT (NYSE:GMRE - Get Free Report)'s stock had its "hold (c-)" rating restated by stock analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Zacks Research upgraded Global Medical REIT from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Global Medical REIT has an average rating of "Moderate Buy" and a consensus target price of $49.58.

Global Medical REIT Stock Down 1.0%

Shares of NYSE GMRE opened at $30.73 on Wednesday. Global Medical REIT has a one year low of $30.09 and a one year high of $48.13. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.28. The business's fifty day moving average price is $35.28 and its 200-day moving average price is $35.41. The stock has a market capitalization of $411.17 million, a PE ratio of 87.80 and a beta of 1.19.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.15 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.15. The business had revenue of $37.88 million for the quarter, compared to analysts' expectations 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. On average, equities research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT announced that its board has authorized a stock buyback plan on Wednesday, August 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. D.A. Davidson & CO. raised its stake in Global Medical REIT by 8.5% during the first quarter. D.A. Davidson & CO. now owns 494,238 shares of the company's stock valued at $4,325,000 after buying an additional 38,577 shares during the last quarter. Deutsche Bank AG raised its stake in shares of 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 purchasing an additional 34,891 shares during the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $13,564,000 after acquiring an additional 144,671 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Global Medical REIT by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock valued at $3,400,000 after acquiring an additional 45,243 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Global Medical REIT by 11,234.4% during 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 during the last quarter. Hedge funds and other institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.