Global Medical REIT (NYSE:GMRE) Upgraded at B. Riley

B. Riley upgraded shares of Global Medical REIT (NYSE:GMRE) to a hold rating in a research note published on Wednesday,Zacks.com reports.

Global Medical REIT Stock Down 3.7 %

Shares of NYSE GMRE opened at $7.73 on Wednesday. The stock has a market capitalization of $516.58 million, a P/E ratio of -386.06, a PEG ratio of 1.43 and a beta of 1.12. Global Medical REIT has a one year low of $7.33 and a one year high of $10.46. The firm’s 50 day simple moving average is $8.40 and its two-hundred day simple moving average is $8.63. 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) last issued its earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates 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. As a group, analysts expect that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st will be paid a $0.21 dividend. The ex-dividend date is Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 10.87%. Global Medical REIT’s dividend payout ratio (DPR) is currently 8,400.00%.

Institutional Trading of Global Medical REIT

Institutional investors have recently made changes to their positions in the stock. State Street Corp raised its holdings in Global Medical REIT by 1.5% during the 3rd quarter. State Street Corp now owns 1,924,433 shares of the company’s stock valued at $19,468,000 after buying an additional 28,444 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Medical REIT by 1.6% in the fourth quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company’s stock valued at $12,724,000 after acquiring an additional 25,820 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Medical REIT by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company’s stock valued at $9,728,000 after acquiring an additional 128,449 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Global Medical REIT by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 877,096 shares of the company’s stock worth $6,771,000 after purchasing an additional 23,993 shares during the period. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of Global Medical REIT by 31.9% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company’s stock worth $5,497,000 after purchasing an additional 172,171 shares during the last quarter. Hedge funds and other institutional investors 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.