Brokerages Set Global Medical REIT Inc (NYSE:GMRE) Target Price at $13.63

Shares of Global Medical REIT Inc (NYSE:GMRE) have earned an average rating of “Buy” from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $13.63.

Several analysts recently issued reports on GMRE shares. Janney Montgomery Scott upgraded shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $14.50 price target on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus increased their price target on shares of Global Medical REIT from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Tuesday, December 17th. B. Riley raised their target price on Global Medical REIT from $13.00 to $15.00 and gave the company a “buy” rating in a report on Friday, December 20th. TheStreet raised Global Medical REIT from a “c+” rating to a “b-” rating in a report on Monday, October 14th. Finally, Zacks Investment Research downgraded Global Medical REIT from a “buy” rating to a “hold” rating in a report on Saturday, November 9th.

Shares of GMRE traded up $0.07 during trading hours on Thursday, hitting $14.80. 830,438 shares of the company were exchanged, compared to its average volume of 413,960. The company has a market cap of $543.13 million, a price-to-earnings ratio of 19.64 and a beta of 0.44. Global Medical REIT has a fifty-two week low of $9.36 and a fifty-two week high of $14.93. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.25. The firm’s fifty day moving average is $13.42 and its 200 day moving average is $11.85.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.17). The company had revenue of $18.20 million for the quarter, compared to analyst estimates of $17.68 million. Global Medical REIT had a return on equity of 5.49% and a net margin of 23.42%. Analysts anticipate that Global Medical REIT will post 0.75 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Thursday, December 26th were paid a $0.20 dividend. The ex-dividend date was Tuesday, December 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.41%. Global Medical REIT’s payout ratio is currently 102.56%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Global Medical REIT by 68.8% during the 2nd quarter. BlackRock Inc. now owns 2,225,649 shares of the company’s stock valued at $23,368,000 after acquiring an additional 907,360 shares in the last quarter. Foundry Partners LLC acquired a new stake in Global Medical REIT during the 3rd quarter worth approximately $5,186,000. Nuveen Asset Management LLC acquired a new stake in Global Medical REIT during the 2nd quarter worth approximately $4,171,000. Vanguard Group Inc. lifted its holdings in shares of Global Medical REIT by 22.7% during the second quarter. Vanguard Group Inc. now owns 1,974,041 shares of the company’s stock worth $20,727,000 after purchasing an additional 364,967 shares during the period. Finally, United Services Automobile Association lifted its holdings in shares of Global Medical REIT by 98.9% during the second quarter. United Services Automobile Association now owns 260,646 shares of the company’s stock worth $2,737,000 after purchasing an additional 129,600 shares during the period. Institutional investors own 48.71% of the company’s stock.

Global Medical REIT Company Profile

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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