Global Medical REIT (NYSE:GMRE) declared a quarterly dividend on Thursday, March 8th, Wall Street Journal reports. Shareholders of record on Thursday, March 22nd will be paid a dividend of 0.20 per share on Tuesday, April 10th. This represents a $0.80 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date of this dividend is Wednesday, March 21st.
Global Medical REIT (NYSE:GMRE) opened at $7.24 on Tuesday. The stock has a market capitalization of $158.34, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. Global Medical REIT has a one year low of $6.45 and a one year high of $10.25. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.18 and a current ratio of 0.18.
In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of the firm’s stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average price of $7.13 per share, for a total transaction of $42,780.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.51% of the stock is owned by insiders.
A hedge fund recently raised its stake in Global Medical REIT stock. State Street Corp increased its position in Global Medical REIT (NYSE:GMRE) by 9.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 234,183 shares of the company’s stock after acquiring an additional 20,804 shares during the period. State Street Corp’s holdings in Global Medical REIT were worth $2,094,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 44.53% of the company’s stock.
A number of brokerages have issued reports on GMRE. TheStreet cut Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. B. Riley restated a “buy” rating on shares of Global Medical REIT in a research note on Thursday, March 8th. Zacks Investment Research cut Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Finally, Cantor Fitzgerald began coverage on Global Medical REIT in a research note on Wednesday, March 7th. They issued a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $10.10.
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About Global Medical REIT
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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