Global Medical REIT (NYSE:GMRE) Hits New 12-Month Low – Time to Sell?

Shares of Global Medical REIT Inc. (NYSE:GMRE) reached a new 52-week low on Friday . The company traded as low as $7.67 and last traded at $7.67, with a volume of 186429 shares traded. The stock had previously closed at $7.82.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on GMRE shares. Alliance Global Partners assumed coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company. Berenberg Bank assumed coverage on shares of Global Medical REIT in a research report on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Trading Down 2.7 %

The firm has a market capitalization of $508.37 million, a P/E ratio of -380.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21. The stock has a 50-day simple moving average of $8.71 and a two-hundred day simple moving average of $9.14. 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 (NYSE:GMRE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, equities research analysts anticipate that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 annualized dividend and a dividend yield of 11.04%. Global Medical REIT’s payout ratio is presently -4,200.00%.

Institutional Trading of Global Medical REIT

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd bought a new position in shares of Global Medical REIT in the 2nd quarter worth $100,000. Quantinno Capital Management LP purchased a new position in Global Medical REIT in the third quarter valued at about $138,000. Zacks Investment Management raised its holdings in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after purchasing an additional 1,696 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Global Medical REIT during the third quarter valued at about $150,000. Finally, Versor Investments LP bought a new stake in shares of Global Medical REIT in the 3rd quarter valued at about $189,000. Institutional investors own 57.52% of the company’s stock.

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.