The price of Global Medical REIT Inc. (NYSE:GMRE) shares last traded on Wall Street rose 2.78% to $10.72.
Based on available information, 8 analysts follow Global Medical REIT Inc. (NYSE:GMRE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $15.00 and a low of $9.00, we find $11.50. Given the previous closing price of $10.43, this indicates a potential upside of 10.26 percent. GMRE stock price is now 10.43% away from the 50-day moving average and -3.19% away from the 200-day moving average. The market capitalization of the company currently stands at $683.40M.
Among analysts, 3 rate the stock a hold while 5 rate it a buy. Brokers who have rated the stock have averaged $11.71 as their price target over the next twelve months.
With the price target maintained at $9, Robert W. Baird recently Downgraded its rating from Outperform to Neutral for Global Medical REIT Inc. (NYSE: GMRE). On October 06, 2022, BMO Capital Markets Downgraded its previous ‘Outperform’ rating to ‘Market Perform’ on the stock reducing its target price from $13 to quote $9, while ‘JMP Securities’ rates the stock as ‘Mkt Perform’.
In other news, MOORE ROSCOE M JR, Director sold 5,000 shares of the company’s stock on Jan 10. The stock was sold for $48,956 at an average price of $9.79. Upon completion of the transaction, the Director now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 04, Director Cole Henry bought 1,287 shares of the business’s stock. A total of $19,999 was incurred on buying the stock at an average price of $15.54. This leaves the insider owning 7,732 shares of the company worth $82887.04. A total of 5.77% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in GMRE stock. A new stake in Global Medical REIT Inc. shares was purchased by RUSSELL INVESTMENTS GROUP, LTD. during the first quarter worth $899,000. GREAT WEST LIFE ASSURANCE CO /CAN/ invested $582,000 in shares of GMRE during the first quarter. In the first quarter, NORTH STAR INVESTMENT MANAGEMENT CORP. acquired a new stake in Global Medical REIT Inc. valued at approximately $480,000. BOOTHBAY FUND MANAGEMENT, LLC acquired a new stake in GMRE for approximately $257,000. M&T BANK CORP purchased a new stake in GMRE valued at around $110,000 in the second quarter. In total, there are 304 active investors with 67.00% ownership of the company’s stock.
A candlestick chart of Global Medical REIT Inc. (NYSE: GMRE) showed a price of $10.47 on Friday morning. During the past 12 months, Global Medical REIT Inc. has had a low of $7.01 and a high of $17.35. The fifty day moving average price for GMRE is $9.74 and a two-hundred day moving average price translates $11.05 for the stock.
The latest earnings results from Global Medical REIT Inc. (NYSE: GMRE) was released for Jun, 2022. According to the REIT – Healthcare Facilities Company, earnings per share came in at $0.03, missing analysts’ expectations of $0.05 by -0.02. This compares to $0.06 EPS in the same period last year. The net profit margin was 12.80% and return on equity was 3.00% for GMRE. The company reported revenue of $35.41 million for the quarter, compared to $29.98 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 18.09 percent. For the current quarter, analysts expect GMRE to generate $34.73M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/09/2023. Investors who held shares on 12/22/2022 were paid a $0.21 dividend. On an annualized basis, this represents a $0.84 dividend and a 7.84% percent yield. There was an ex-dividend date of 12/21/2022 for this dividend. In terms of dividend payout ratio, GMRE is presently at 325.00%.
Global Medical REIT Inc.(GMRE) Company Profile
Global Medical REIT Inc. is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.