Global Medical REIT (NYSE:GMRE) Hits New 1-Year Low – Time to Sell?

Global Medical REIT Inc. (NYSE:GMRE)’s share price reached a new 52-week low on Monday . The stock traded as low as $7.13 and last traded at $7.27, with a volume of 604189 shares changing hands. The stock had previously closed at $7.73.

Analyst Ratings Changes

Separately, B. Riley started coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price objective on the stock.

Global Medical REIT Stock Performance

The stock has a fifty day moving average of $8.38 and a 200-day moving average of $8.59. The firm has a market capitalization of $483.14 million, a P/E ratio of -361.07, a P/E/G ratio of 1.43 and a beta of 1.12. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.22 earnings per share 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 company had revenue of $35.16 million during the quarter, compared to analysts’ expectations of $34.87 million. On average, research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.84 annualized dividend and a yield of 11.63%. Global Medical REIT’s dividend payout ratio (DPR) is presently 8,400.00%.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently modified their holdings of GMRE. GAMMA Investing LLC raised its holdings 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 worth $63,000 after acquiring an additional 7,190 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Global Medical REIT during the 4th quarter worth approximately $951,000. PharVision Advisers LLC bought a new stake in shares of Global Medical REIT during the 4th quarter worth approximately $161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Global Medical REIT by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,965 shares of the company’s stock valued at $1,003,000 after buying an additional 9,351 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Global Medical REIT in the fourth quarter valued at $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.