The Vanguard Group, Inc. has recently announced that it has increased stake in Global Medical REIT Inc. (NYSE:GMRE) by 0.92%. After grabbing 6.24 million shares, the institutional investor is now in possession of 56735.0 shares of the Real Estate Company. The new investment brought the stake of investor firm to 9.52% having worth around $57.03 million. Moreover, Nuveen Asset Management LLC increased its share by 0.19 million to have a control over 1.56 million shares. And Geode Capital Management LLC raised its holdings to 19683.0 shares by acquiring 1.32 million shares or 2.01% of the stake.
Global Medical REIT Inc. (GMRE) concluded trading on 11/23/22 at a closing price of $9.54, with 0.48 million shares of worth about $4.57 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -25.47% during that period and on Wednesday the price saw a gain of about 0.32%. Currently the company’s common shares owned by public are about 65.52M shares, out of which, 61.74M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the GMRE stock and their offered price forecasts bring an average price target of $11.57. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $15.00 and could fall to a lowest price of $9.00. The stock’s current price level is 17.55% above of average price target set by the analysts, while a rise to estimated low would result in loss of -6.0% for the stock. However, touching the estimated high of $15.00 would mean a gain of 36.4% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 3 times over the past 12 months. They bought 8,287 shares in 3 of the transactions. In 0 selling transactions, insiders dumped 0 shares.
Vanguard Real Estate Index Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Global Medical REIT Inc. Vanguard Real Estate Index Fund is currently holding 2.82 million shares of worth totaling $25.77 million. The company recently came selling 7831.0 shares which brought its stake up to 4.30% of the company’s outstanding shares. iShares Russell 2000 ETF, after selling 1.33 million shares, have now control over 2.04% of the stake in the company. It holds 24717.0 shares of worth $12.18 million.
Global Medical REIT Inc. (NYSE: GMRE) started trading at $9.52, above $0.01 from concluding price of the previous day. However, the stock later moved at a day high price of 9.60, or with a gain of 0.32%. Stock saw a price change of 1.60% in past 5 days and over the past one month there was a price change of 11.84%. Year-to-date (YTD), GMRE shares are showing a performance of -46.25% which decreased to -43.52% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $7.01 but also hit the highest price of $18.51 during that period. The average intraday trading volume for Global Medical REIT Inc. shares is 678.94K. The stock is currently trading 4.13% above its 20-day simple moving average (SMA20), while that difference is up 8.35% for SMA50 and it goes to -22.01% lower than SMA200.
The Vanguard Group, Inc. acquired 6.24 million shares of Global Medical REIT Inc. having value of about $57.03 million. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 56735.0 shares in the company valued at close to $541251.9, or have control over 0.92% stake in the company. Global Medical REIT Inc. (NYSE: GMRE) currently have 65.52M outstanding shares and institutions hold larger chunk of about 67.10% of that. Holding of mutual funds in the company is about 35.41% while other institutional holders and individual stake holders have control over 9.77% and 30.58% of the stake respectively.
The stock has a current market capitalization of $622.39M and its 3Y-monthly beta is at 1.05. PE ratio of stock for trailing 12 months is 37.12, while it has posted earnings per share of $0.26 in the same period. Its PEG reads 4.12 while making debt-to-equity ratio of 1.21. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for GMRE, volatility over the week remained 2.56% while standing at 3.43% over the month.
Analysts are in expectations that Global Medical REIT Inc. (GMRE) stock would likely to be making an EPS of $0.04 in the current quarter, while forecast for next quarter EPS is $0.04 and it is $0.19 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.02 which is $0.05 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 216.20% while it is estimated to decrease by -37.22% in next year. EPS is likely to shrink at an annualized rate of 9.00% for next 5-years, compared to annual growth of 18.00% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the Global Medical REIT Inc. (GMRE)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 9 Wall Street analysts, 5 recommended a “Buy” rating, while 4 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Robert W. Baird on October 10, 2022 offering a Neutral rating for the stock and assigned a target price of $9 to it. Coverage by BMO Capital Markets stated Global Medical REIT Inc. (GMRE) stock as a Market perform in their note to investors on October 06, 2022, suggesting a price target of $9 for the stock. Stock get an Overweight rating from KeyBanc Capital Markets on September 20, 2021.