Global Medical REIT Inc. (NYSE:GMRE) Position Trimmed by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its position in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,185 shares of the company's stock after selling 102,268 shares during the period. Ameriprise Financial Inc. owned approximately 0.27% of Global Medical REIT worth $1,384,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Jane Street Group LLC boosted its position in Global Medical REIT by 120.7% in the 4th quarter. Jane Street Group LLC now owns 102,125 shares of the company's stock valued at $788,000 after buying an additional 55,844 shares during the last quarter. Northern Trust Corp grew its holdings in Global Medical REIT by 10.7% in the 4th quarter. Northern Trust Corp now owns 628,869 shares of the company's stock worth $4,855,000 after buying an additional 60,897 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Global Medical REIT by 12.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 54,442 shares of the company's stock valued at $420,000 after purchasing an additional 6,116 shares during the period. Quarry LP increased its stake in Global Medical REIT by 111.5% during the 4th quarter. Quarry LP now owns 4,940 shares of the company's stock valued at $38,000 after buying an additional 2,604 shares during the period. Finally, Beck Capital Management LLC raised its holdings in Global Medical REIT by 10.5% during the fourth quarter. Beck Capital Management LLC now owns 174,714 shares of the company's stock worth $1,349,000 after purchasing an additional 16,672 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company's stock.

Global Medical REIT Trading Down 0.3%

Shares of GMRE traded down $0.02 during midday trading on Wednesday, hitting $6.30. The stock had a trading volume of 558,243 shares, compared to its average volume of 467,813. The business has a 50-day simple moving average of $7.25 and a two-hundred day simple moving average of $7.92. The firm has a market cap of $421.29 million, a P/E ratio of -314.84, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT Inc. has a fifty-two week low of $6.06 and a fifty-two week high of $10.46.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. As a group, equities analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.52%. Global Medical REIT's dividend payout ratio (DPR) is presently 2,000.00%.

Wall Street Analysts Forecast Growth

GMRE has been the topic of several research reports. Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Robert W. Baird decreased their target price on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Thursday, May 8th. Finally, B. Riley began coverage on Global Medical REIT in a report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $10.44.

Global Medical REIT 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.