Global Medical REIT (NYSE:GMRE) Reaches New 12-Month Low – Should You Sell?

Shares of Global Medical REIT Inc. (NYSE:GMRE) reached a new 52-week low on Friday . The stock traded as low as $7.33 and last traded at $7.52, with a volume of 1004388 shares trading hands. The stock had previously closed at $7.63.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Alliance Global Partners initiated coverage on Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price objective on the stock. Berenberg Bank initiated coverage on Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock.

Global Medical REIT Stock Performance

The stock has a 50-day moving average price of $8.41 and a 200 day moving average price of $9.05. The company has a market cap of $502.36 million, a price-to-earnings ratio of -375.81, a price-to-earnings-growth ratio of 1.46 and a beta of 1.23. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the company posted $0.23 earnings per share. As a group, analysts anticipate that Global Medical REIT Inc. will post 0.83 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 11.17%. Global Medical REIT’s payout ratio is -4,200.00%.

Institutional Trading of Global Medical REIT

A number of institutional investors have recently modified their holdings of GMRE. State Street Corp boosted its stake in Global Medical REIT by 1.5% during the third quarter. State Street Corp now owns 1,924,433 shares of the company’s stock worth $19,468,000 after acquiring an additional 28,444 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Global Medical REIT by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock worth $16,078,000 after purchasing an additional 18,209 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Global Medical REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after acquiring an additional 6,676 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Global Medical REIT by 5.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,103 shares of the company’s stock valued at $8,454,000 after purchasing an additional 41,172 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in shares of Global Medical REIT by 8.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 637,751 shares of the company’s stock valued at $6,320,000 after purchasing an additional 47,500 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.