Set Your Sights On Global Medical REIT Inc (NYSE: GMRE)’S Upside Potential

Global Medical REIT Inc (GMRE) concluded trading on Thursday at a closing price of $8.75, with 0.48 million shares of worth about $4.24 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -0.46% during that period and on March 28, 2024 the price saw a gain of about 1.74%. Currently the company’s common shares owned by public are about 65.56M shares, out of which, 61.79M shares are available for trading.

Stock saw a price change of 0.92% in past 5 days and over the past one month there was a price change of -0.11%. Year-to-date (YTD), GMRE shares are showing a performance of -21.17% which increased to 1.39% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $8.06 but also hit the highest price of $11.59 during that period. The average intraday trading volume for Global Medical REIT Inc shares is 377.00K. The stock is currently trading -0.47% below its 20-day simple moving average (SMA20), while that difference is down -6.81% for SMA50 and it goes to -8.87% lower than SMA200.

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Global Medical REIT Inc (NYSE: GMRE) currently have 65.56M outstanding shares and institutions hold larger chunk of about 57.93% of that.

The stock has a current market capitalization of $573.74M and its 3Y-monthly beta is at 1.14. PE ratio of stock for trailing 12 months is 38.77, while it has posted earnings per share of $0.23 in the same period. Its PEG reads 4.31 while making debt-to-equity ratio of 1.07. 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 2.66% while standing at 2.33% over the month.

Analysts are in expectations that Global Medical REIT Inc (GMRE) stock would likely to be making an EPS of $0 in the current quarter, while forecast for next quarter EPS is $0 and it is $0.03 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.01 which is $0.02 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 $0.01 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -90.22% while it is estimated to increase by 151.85% in next year. EPS is likely to grow at an annualized rate of 9.00% for next 5-years, compared to annual growth of -8.36% made by the stock over the past 5-years.

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.

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