Global Medical REIT Inc. (NYSE:GMRE) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,550,157 shares of the company's stock after buying an additional 144,671 shares during the period. Bank of New York Mellon Corp owned about 2.32% of Global Medical REIT worth $13,564,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its position in Global Medical REIT by 111.5% in 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. PNC Financial Services Group Inc. lifted its position in shares of Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after purchasing an additional 2,301 shares during the period. GAMMA Investing LLC lifted its position in shares of Global Medical REIT by 11,234.4% in the 1st quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock worth $63,000 after purchasing an additional 7,190 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Global Medical REIT in the 4th quarter worth approximately $82,000. Finally, Corton Capital Inc. purchased a new stake in shares of Global Medical REIT in the 4th quarter worth approximately $85,000. 57.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of Global Medical REIT stock in a transaction that occurred on Wednesday, June 25th. The stock was purchased at an average price of $6.50 per share, for a total transaction of $372,658.00. Following the transaction, the chief executive officer directly owned 160,000 shares in the company, valued at $1,040,000. This trade represents a 55.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 8.50% of the company's stock.

Global Medical REIT Trading Up 1.1%

Global Medical REIT stock traded up $0.08 during midday trading on Wednesday, hitting $7.19. 500,770 shares of the stock were exchanged, compared to its average volume of 522,744. Global Medical REIT Inc. has a fifty-two week low of $6.06 and a fifty-two week high of $10.46. The stock has a market capitalization of $480.66 million, a price-to-earnings ratio of 239.68, a PEG ratio of 1.22 and a beta of 1.16. The stock's 50-day simple moving average is $6.66 and its 200 day simple moving average is $7.53. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44.

Global Medical REIT (NYSE:GMRE - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.22. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $35.49 million. Global Medical REIT had a net margin of 5.87% and a return on equity of 1.68%. On average, equities analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.35%. Global Medical REIT's dividend payout ratio is presently 2,000.00%.

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.