The stock price of Global Medical REIT Inc (NYSE: GMRE) has jumped by 2.50 compared to previous close of 9.19. Despite this, the company has seen a gain of 2.84% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-20 that The current interest rate environment offers yield-seeking investors opportunities for ~ 7% yields without sacrificing quality. However, to move closer to double-digit yield territory, things become more tricky and investors have to be very selective to avoid unpleasant surprises. In this article, I elaborate on two equity REITs, which yield 9% and above.
Is It Worth Investing in Global Medical REIT Inc (NYSE: GMRE) Right Now?
The stock has a 36-month beta value of 1.27. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 2 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The public float for GMRE is 61.81M, and at present, short sellers hold a 1.84% of that float. On August 23, 2024, the average trading volume of GMRE was 370.80K shares.
GMRE’s Market Performance
GMRE stock saw a decrease of 2.84% in the past week, with a monthly decline of -2.18% and a quarterly a decrease of 8.78%. The volatility ratio for the week is 1.53%, and the volatility levels for the last 30 days are 2.31% for Global Medical REIT Inc (GMRE). The simple moving average for the last 20 days is 1.76% for GMRE’s stock, with a simple moving average of 0.33% for the last 200 days.
Analysts’ Opinion of GMRE
Many brokerage firms have already submitted their reports for GMRE stocks, with Robert W. Baird repeating the rating for GMRE by listing it as a “Neutral.” The predicted price for GMRE in the upcoming period, according to Robert W. Baird is $9 based on the research report published on October 10, 2022 of the previous year 2022.
BMO Capital Markets, on the other hand, stated in their research note that they expect to see GMRE reach a price target of $9, previously predicting the price at $13. The rating they have provided for GMRE stocks is “Market Perform” according to the report published on October 06th, 2022.
GMRE Trading at 1.99% from the 50-Day Moving Average
After a stumble in the market that brought GMRE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -18.69% of loss for the given period.
Volatility was left at 2.31%, however, over the last 30 days, the volatility rate increased by 1.53%, as shares sank -4.26% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.40% upper at present.
During the last 5 trading sessions, GMRE rose by +2.95%, which changed the moving average for the period of 200-days by +2.50% in comparison to the 20-day moving average, which settled at $9.24. In addition, Global Medical REIT Inc saw -15.14% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for GMRE
Current profitability levels for the company are sitting at:
- 0.36 for the present operating margin
- 0.62 for the gross margin
The net margin for Global Medical REIT Inc stands at 0.04. The total capital return value is set at 0.04. Equity return is now at value 0.98, with 0.45 for asset returns.
Based on Global Medical REIT Inc (GMRE), the company’s capital structure generated 0.52 points at debt to capital in total, while cash flow to debt ratio is standing at 0.11. The debt to equity ratio resting at 1.1. The interest coverage ratio of the stock is 1.62.
Currently, EBITDA for the company is 111.67 million with net debt to EBITDA at 6.09. When we switch over and look at the enterprise to sales, we see a ratio of 8.42. The receivables turnover for the company is 4.08for trailing twelve months and the total asset turnover is 0.12.
Conclusion
To sum up, Global Medical REIT Inc (GMRE) has seen a mixed performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
