Global Medical REIT (NYSE:GMRE) Coverage Initiated by Analysts at B. Riley

B. Riley started coverage on shares of Global Medical REIT (NYSE:GMRE - Free Report) in a research report released on Thursday. The brokerage issued a neutral rating and a $9.00 price objective on the stock.

Global Medical REIT Trading Up 1.1 %

GMRE traded up $0.08 during mid-day trading on Thursday, hitting $7.32. The stock had a trading volume of 452,588 shares, compared to its average volume of 432,780. The stock's fifty day simple moving average is $8.38 and its 200-day simple moving average is $8.59. The firm has a market capitalization of $489.50 million, a price-to-earnings ratio of -365.97, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12. Global Medical REIT has a 1-year low of $7.13 and a 1-year high of $10.46. 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 - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The business had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. As a group, research analysts forecast that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 11.48%. The ex-dividend date of this dividend is Friday, March 21st. Global Medical REIT's dividend payout ratio is presently 8,400.00%.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Global Medical REIT by 11,234.4% during the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock worth $63,000 after acquiring an additional 7,190 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Global Medical REIT during the 4th quarter worth approximately $951,000. PharVision Advisers LLC bought a new stake in shares of Global Medical REIT during the 4th quarter worth approximately $161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Global Medical REIT by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 129,965 shares of the company's stock valued at $1,003,000 after buying an additional 9,351 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new stake in shares of Global Medical REIT in the 4th quarter valued at approximately $82,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.