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

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on GMRE shares. Berenberg Bank assumed coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective on the stock. Alliance Global Partners began 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.

Global Medical REIT Trading Down 2.9 %

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’s 50 day moving average is $8.75 and its 200-day moving average is $9.15. The company has a market cap of $507.03 million, a PE ratio of -379.31, a P/E/G ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 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 business 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 business posted $0.23 EPS. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 11.07%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s dividend payout ratio is currently -4,200.00%.

Institutional Trading of Global Medical REIT

Institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Global Medical REIT in the second quarter valued at $100,000. Quantinno Capital Management LP purchased a new stake in Global Medical REIT in the 3rd quarter worth about $138,000. Zacks Investment Management raised its position in Global Medical REIT by 12.9% in the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after purchasing an additional 1,696 shares during the period. Intech Investment Management LLC bought a new stake in Global Medical REIT in the third quarter worth about $150,000. Finally, Versor Investments LP purchased a new position in shares of Global Medical REIT during the third quarter valued at approximately $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.