Global Medical REIT (NYSE:GMRE) Upgraded by B. Riley to Hold Rating

B. Riley upgraded shares of Global Medical REIT (NYSE:GMRE) to a hold rating in a report issued on Wednesday,Zacks.com reports.

Global Medical REIT Trading Down 3.7 %

NYSE:GMRE opened at $7.73 on Wednesday. The company has a 50-day moving average price of $8.40 and a 200-day moving average price of $8.63. The stock has a market cap of $516.58 million, a price-to-earnings ratio of -386.06, a P/E/G ratio of 1.43 and a beta of 1.12. 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 has a 12 month low of $7.33 and a 12 month high of $10.46.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The business had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million. Equities analysts predict that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.84 annualized dividend and a yield of 10.87%. Global Medical REIT’s payout ratio is 8,400.00%.

Institutional Trading of Global Medical REIT

A number of hedge funds have recently modified their holdings of the business. Quarry LP boosted its stake in Global Medical REIT by 111.5% during the fourth quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after acquiring an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after buying an additional 2,301 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Global Medical REIT in the fourth quarter worth $82,000. Corton Capital Inc. purchased a new stake in shares of Global Medical REIT in the fourth quarter worth $85,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Global Medical REIT in the 4th quarter worth about $91,000. 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.