D.A. Davidson & CO. Acquires 38,577 Shares of Global Medical REIT Inc. (NYSE:GMRE)

D.A. Davidson & CO. grew its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 494,238 shares of the company's stock after acquiring an additional 38,577 shares during the period. D.A. Davidson & CO. owned 0.74% of Global Medical REIT worth $4,325,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of GMRE. Cutler Capital Management LLC boosted its position in Global Medical REIT by 0.3% during the fourth quarter. Cutler Capital Management LLC now owns 450,279 shares of the company's stock valued at $3,476,000 after acquiring an additional 1,376 shares during the last quarter. Legal & General Group Plc boosted its stake in Global Medical REIT by 2.5% in the fourth quarter. Legal & General Group Plc now owns 61,525 shares of the company's stock worth $475,000 after buying an additional 1,496 shares in the last quarter. Commonwealth Equity Services LLC boosted its stake in shares of Global Medical REIT by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock valued at $98,000 after purchasing an additional 1,819 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock valued at $48,000 after acquiring an additional 2,301 shares in the last quarter. Finally, Quarry LP raised its holdings in Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company's stock worth $38,000 after purchasing an additional 2,604 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was acquired at an average cost of $6.50 per share, with a total value of $372,658.00. Following the completion of the acquisition, the chief executive officer directly owned 160,000 shares of the company's stock, valued at $1,040,000. This represents a 55.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 8.50% of the company's stock.

Global Medical REIT Stock Down 1.0%

NYSE:GMRE traded down $0.08 during mid-day trading on Wednesday, hitting $7.10. The stock had a trading volume of 489,069 shares, compared to its average volume of 608,831. 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 Inc. has a twelve month low of $6.05 and a twelve month high of $10.46. The stock has a 50-day simple moving average of $6.70 and a two-hundred day simple moving average of $7.58. The company has a market capitalization of $474.45 million, a PE ratio of 236.58, a PEG ratio of 1.22 and a beta of 1.16.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $35.49 million. On average, equities research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 8.46%. Global Medical REIT's payout ratio is presently 2,000.00%.

Analyst Ratings Changes

GMRE has been the subject of a number of research analyst reports. B. Riley began coverage on shares of 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. Robert W. Baird decreased 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, Wall Street Zen downgraded shares of 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 issued a buy rating to the company's stock. According to data from MarketBeat.com, Global Medical REIT currently has an average rating of "Hold" and a consensus 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.