D.A. Davidson & CO. boosted its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 8.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 494,238 shares of the company's stock after buying an additional 38,577 shares during the quarter. D.A. Davidson & CO. owned approximately 0.74% of Global Medical REIT worth $4,325,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in Global Medical REIT by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company's stock worth $12,724,000 after buying an additional 25,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Global Medical REIT by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company's stock worth $9,728,000 after purchasing an additional 128,449 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Global Medical REIT by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 877,096 shares of the company's stock worth $6,771,000 after purchasing an additional 23,993 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in Global Medical REIT by 31.9% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company's stock worth $5,497,000 after purchasing an additional 172,171 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Global Medical REIT by 10.7% during the fourth quarter. Northern Trust Corp now owns 628,869 shares of the company's stock worth $4,855,000 after purchasing an additional 60,897 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company's stock.
Global Medical REIT Stock Up 1.7%
Shares of GMRE traded up $0.13 during trading hours on Friday, hitting $7.28. The stock had a trading volume of 436,824 shares, compared to its average volume of 506,213. Global Medical REIT Inc. has a 1-year low of $6.06 and a 1-year high of $10.46. The firm has a market capitalization of $486.49 million, a P/E ratio of 242.58, a price-to-earnings-growth ratio of 1.24 and a beta of 1.16. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.26 and a quick ratio of 0.26. The firm has a 50 day simple moving average of $6.73 and a 200-day simple moving average of $7.59.
Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. Global Medical REIT had a net margin of 5.87% and a return on equity of 1.68%. The business had revenue of $34.60 million for the quarter, compared to analysts' expectations of $35.49 million. Sell-side analysts predict that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.
Global Medical REIT Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.25%. Global Medical REIT's payout ratio is 2,000.00%.
Insiders Place Their Bets
In other news, CEO Mark Okey Decker, Jr. bought 102,668 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were purchased at an average price of $6.52 per share, with a total value of $669,395.36. Following the transaction, the chief executive officer directly owned 102,668 shares in the company, valued at $669,395.36. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.50% of the company's stock.
Analysts Set New Price Targets
Several research firms have weighed in on GMRE. Robert W. Baird cut their target price on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. B. Riley began coverage on Global Medical REIT in a research note on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price target for the company. Finally, Wall Street Zen cut Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $10.44.
Read Our Latest Analysis on GMRE
About Global Medical REIT
(
Free Report)
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.
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