Global Medical REIT (NYSE:GMRE) Sets New 52-Week Low – What’s Next?

Global Medical REIT Inc. (NYSE:GMRE) shares hit a new 52-week low during trading on Friday . The company traded as low as $7.33 and last traded at $7.52, with a volume of 1004388 shares changing hands. The stock had previously closed at $7.63.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GMRE. Berenberg Bank started coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective on the stock. Alliance Global Partners began coverage on Global Medical REIT in a research report on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price for the company.

Global Medical REIT Stock Performance

The company’s 50-day simple moving average is $8.38 and its 200-day simple moving average is $9.04. The stock has a market capitalization of $502.36 million, a price-to-earnings ratio of -375.81, a PEG ratio of 1.46 and a beta of 1.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The company had revenue of $34.26 million during the quarter, compared to analyst estimates of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, analysts expect that Global Medical REIT Inc. will post 0.83 EPS for the current year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.17%. Global Medical REIT’s dividend payout ratio (DPR) is -4,200.00%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd acquired a new position in Global Medical REIT in the second quarter valued at approximately $100,000. Quantinno Capital Management LP bought a new stake in shares of Global Medical REIT in the 3rd quarter valued at $138,000. Zacks Investment Management lifted its position in shares of Global Medical REIT by 12.9% during the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after acquiring an additional 1,696 shares during the period. Intech Investment Management LLC bought a new position in Global Medical REIT during the third quarter worth $150,000. Finally, Versor Investments LP acquired a new stake in Global Medical REIT in the third quarter worth $189,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.