Global Medical REIT (NYSE:GMRE) Reaches New 12-Month Low - Here's Why

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) hit a new 52-week low on Monday . The company traded as low as $7.13 and last traded at $7.27, with a volume of 604189 shares trading hands. The stock had previously closed at $7.73.

Wall Street Analysts Forecast Growth

Separately, B. Riley assumed coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 target price for the company.

Global Medical REIT Price Performance

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 company has a 50 day moving average of $8.31 and a two-hundred day moving average of $8.50. The firm has a market cap of $466.43 million, a P/E ratio of -348.58, a PEG ratio of 1.43 and a beta of 1.12.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The company had revenue of $35.16 million for the quarter, compared to analysts' expectations of $34.87 million. Sell-side analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 12.04%. Global Medical REIT's dividend payout ratio (DPR) is presently 8,400.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GMRE. Man Group plc grew its stake in Global Medical REIT by 321.7% during the 4th quarter. Man Group plc now owns 561,022 shares of the company's stock valued at $4,331,000 after acquiring an additional 427,987 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Global Medical REIT during the fourth quarter worth approximately $2,904,000. JPMorgan Chase & Co. grew its position in Global Medical REIT by 94.5% during the fourth quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company's stock valued at $3,483,000 after purchasing an additional 219,270 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Global Medical REIT in the 4th quarter valued at approximately $1,430,000. Finally, Pacific Ridge Capital Partners LLC lifted its position in Global Medical REIT by 31.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company's stock worth $5,497,000 after buying an additional 172,171 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.