Global Medical REIT Inc. $GMRE Shares Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Global Medical REIT Inc. by 76.6%, acquiring an additional 34,891 shares, bringing its total ownership to 80,435 shares valued at approximately $704,000.
• Global Medical REIT's board initiated a share repurchase plan authorizing the company to buyback $50 million in outstanding shares, signaling that the board believes the stock is undervalued.
• The company recently disclosed a quarterly dividend cut, paying $0.15 per share with a high payout ratio of 857.14%, which may be concerning for investors.

Deutsche Bank AG lifted its holdings in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 76.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,435 shares of the company's stock after buying an additional 34,891 shares during the quarter. Deutsche Bank AG owned 0.12% of Global Medical REIT worth $704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GMRE. Quarry LP raised its holdings in Global Medical REIT by 111.5% during 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 during the last quarter. GAMMA Investing LLC raised its holdings in Global Medical REIT by 11,234.4% during the first 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 last quarter. Squarepoint Ops LLC acquired a new position in Global Medical REIT during the fourth quarter worth $82,000. Corton Capital Inc. acquired a new position in Global Medical REIT during the fourth quarter worth $85,000. Finally, Ballentine Partners LLC acquired a new position in Global Medical REIT during the first quarter worth $101,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GMRE has been the subject of several research reports. Wall Street Zen cut Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Robert W. Baird cut their price target on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Global Medical REIT has an average rating of "Moderate Buy" and a consensus target price of $10.44.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 102,668 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The stock was purchased at an average cost of $6.52 per share, for a total transaction of $669,395.36. Following the completion of the purchase, the chief executive officer owned 102,668 shares of the company's stock, valued at $669,395.36. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders acquired 161,350 shares of company stock valued at $1,052,016 in the last ninety days. Corporate insiders own 8.50% of the company's stock.

Global Medical REIT Price Performance

Shares of NYSE GMRE traded up $0.12 during trading on Friday, reaching $7.50. The company had a trading volume of 553,614 shares, compared to its average volume of 771,443. Global Medical REIT Inc. has a twelve month low of $6.05 and a twelve month high of $10.46. The stock has a market capitalization of $501.27 million, a PE ratio of 107.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.16. The stock has a 50-day moving average price of $6.97 and a two-hundred day moving average price of $7.35. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.56.

Global Medical REIT (NYSE:GMRE - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $37.88 million during the quarter, compared to analysts' expectations of $35.57 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT declared that its board has approved a stock buyback plan on Wednesday, August 13th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the company to purchase up to 11.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its stock is undervalued.

About Global Medical REIT

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.