Global Medical REIT (NYSE:GMRE) Earns Neutral Rating from Analysts at B. Riley

B. Riley assumed coverage on shares of Global Medical REIT (NYSE:GMRE) in a research note published on Thursday. The brokerage issued a neutral rating and a $9.00 price objective on the stock.

Global Medical REIT Price Performance

Shares of GMRE opened at $7.73 on Thursday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $516.58 million, a PE ratio of -386.06, a P/E/G ratio of 1.43 and a beta of 1.12. The stock has a 50 day simple moving average of $8.40 and a 200 day simple moving average of $8.62. Global Medical REIT has a 52-week low of $7.33 and a 52-week high of $10.46.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million. Sell-side analysts predict that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be issued 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 10.87%. Global Medical REIT’s payout ratio is presently 8,400.00%.

Institutional Trading of Global Medical REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP raised its stake in Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after buying an additional 2,604 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Global Medical REIT by 58.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after purchasing an additional 2,301 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Global Medical REIT during the 4th quarter valued at $82,000. Corton Capital Inc. acquired a new position in shares of Global Medical REIT in the fourth quarter valued at $85,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Global Medical REIT in the fourth quarter valued at $91,000. 57.52% of the stock is owned by institutional investors.

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.