Global Medical REIT (NYSE:GMRE) Sets New 52-Week Low - Should You Sell?

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) shares hit a new 52-week low on Friday . The company 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 Ratings Changes

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

Global Medical REIT Trading Down 1.4 %

The firm's 50 day simple moving average is $8.38 and its 200-day simple moving average is $9.04. The company has a market capitalization of $502.36 million, a PE ratio of -375.81, a P/E/G ratio of 1.46 and a beta of 1.23. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

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

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 11.17%. The ex-dividend date of this dividend was Friday, December 20th. Global Medical REIT's dividend payout ratio (DPR) is presently -4,200.00%.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its stake in shares of Global Medical REIT by 228.9% during the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company's stock valued at $1,073,000 after buying an additional 80,030 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Global Medical REIT by 158.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company's stock valued at $1,195,000 after acquiring an additional 73,965 shares during the last quarter. Barclays PLC grew its holdings in Global Medical REIT by 87.1% during the 3rd quarter. Barclays PLC now owns 154,051 shares of the company's stock worth $1,527,000 after acquiring an additional 71,704 shares in the last quarter. Duncan Williams Asset Management LLC acquired a new position in Global Medical REIT during the 3rd quarter worth $538,000. Finally, State Street Corp increased its position in shares of Global Medical REIT by 1.5% in the 3rd quarter. State Street Corp now owns 1,924,433 shares of the company's stock worth $19,468,000 after purchasing an additional 28,444 shares during the last quarter. Institutional investors and hedge funds 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.