Berenberg Bank Begins Coverage on Global Medical REIT (NYSE:GMRE)

Berenberg Bank started coverage on shares of Global Medical REIT (NYSE:GMRE) in a research report released on Friday, MarketBeat.com reports. The brokerage issued a buy rating and a $11.75 price target on the stock.

Separately, Alliance Global Partners began coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 price objective on the stock.

Global Medical REIT Stock Up 1.2 %

NYSE:GMRE opened at $9.59 on Friday. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $628.99 million, a PE ratio of 41.70, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The company has a 50-day moving average of $9.47 and a 200 day moving average of $9.11. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.25). The business had revenue of $34.24 million for the quarter, compared to analysts’ expectations of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same period last year, the business earned $0.23 EPS. As a group, research analysts anticipate that Global Medical REIT will post 0.85 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were issued a $0.21 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.76%. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in Global Medical REIT in the second quarter valued at approximately $100,000. M&G Plc acquired a new position in Global Medical REIT during the 1st quarter valued at approximately $141,000. BTC Capital Management Inc. acquired a new position in Global Medical REIT during the 1st quarter valued at approximately $143,000. SG Americas Securities LLC grew its stake in Global Medical REIT by 90.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock worth $225,000 after buying an additional 10,759 shares during the last quarter. Finally, Creative Planning increased its position in Global Medical REIT by 13.3% in the third quarter. Creative Planning now owns 22,980 shares of the company’s stock worth $228,000 after buying an additional 2,702 shares during the period. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.