Global Medical REIT (NYSE:GMRE) Hits New 1-Year Low - Here's What Happened

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The company traded as low as $7.67 and last traded at $7.67, with a volume of 186429 shares changing hands. The stock had previously closed at $7.82.

Analyst Ratings Changes

A number of brokerages have recently weighed in on GMRE. 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 target on the stock. Berenberg Bank assumed coverage on Global Medical REIT in a research note on Friday, October 18th. They set a "buy" rating and a $11.75 target price on the stock.

Global Medical REIT Trading Down 2.7 %

The business has a 50-day moving average of $8.75 and a 200-day moving average of $9.15. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The stock has a market cap of $508.37 million, a price-to-earnings ratio of -380.31, a PEG ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period in the previous year, the firm posted $0.23 EPS. As a group, research analysts forecast that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Dividend Announcement

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 issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.04%. Global Medical REIT's dividend payout ratio is currently -4,200.00%.

Institutional Investors Weigh In On Global Medical REIT

Large investors have recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd bought a new stake in Global Medical REIT during the second quarter worth approximately $100,000. Quantinno Capital Management LP bought a new position in Global Medical REIT in the 3rd quarter worth $138,000. Zacks Investment Management lifted its position in Global Medical REIT by 12.9% during the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company's stock worth $147,000 after acquiring an additional 1,696 shares during the last quarter. Intech Investment Management LLC acquired a new position in Global Medical REIT during the 3rd quarter worth $150,000. Finally, Versor Investments LP bought a new stake in Global Medical REIT during the third quarter valued at about $189,000. 57.52% of the stock is currently owned by 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.