Man Group plc Has $4.33 Million Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Man Group plc grew its stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 321.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 561,022 shares of the company's stock after purchasing an additional 427,987 shares during the period. Man Group plc owned approximately 0.84% of Global Medical REIT worth $4,331,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Global Medical REIT during the fourth quarter worth approximately $1,430,000. New Age Alpha Advisors LLC bought a new stake in Global Medical REIT during the 4th quarter worth approximately $263,000. Price T Rowe Associates Inc. MD grew its position in Global Medical REIT by 39.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 228,821 shares of the company's stock worth $1,767,000 after acquiring an additional 64,164 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Global Medical REIT by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company's stock valued at $9,728,000 after purchasing an additional 128,449 shares in the last quarter. Finally, Aew Capital Management L P acquired a new stake in Global Medical REIT during the 4th quarter valued at $230,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Price Performance

GMRE stock traded up $0.15 during midday trading on Tuesday, reaching $6.35. 712,645 shares of the company's stock traded hands, compared to its average volume of 464,364. The company has a 50-day simple moving average of $7.46 and a two-hundred day simple moving average of $8.01. Global Medical REIT Inc. has a 1-year low of $6.06 and a 1-year high of $10.46. The company has a market cap of $424.63 million, a price-to-earnings ratio of -317.34, a PEG ratio of 1.43 and a beta of 1.23. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates of $0.22. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. On average, analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 13.23%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT's dividend payout ratio (DPR) is presently 2,800.00%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GMRE. Robert W. Baird dropped 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. Wall Street Zen cut Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. 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 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Global Medical REIT has an average rating of "Hold" and a consensus target price of $10.44.

Global Medical REIT Company 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.