Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Phocas Financial Corp.

Key Points

• Phocas Financial Corp. has decreased its holdings in Global Medical REIT Inc. by 8.1%, now owning approximately 0.86% of the company with a value of $5 million.
• CEO Mark Okey Decker, Jr. purchased 102,668 shares at an average price of $6.52, increasing his ownership significantly and emphasizing confidence in the company's prospects.
• Global Medical REIT reported earnings of $0.22 per share for the last quarter, matching analyst expectations, but the company has cut its dividend to $0.15 per share, raising concerns over its sustainability.

Phocas Financial Corp. trimmed its position in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 572,131 shares of the company's stock after selling 50,275 shares during the period. Phocas Financial Corp. owned approximately 0.86% of Global Medical REIT worth $5,006,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. D.A. Davidson & CO. raised its holdings in shares of Global Medical REIT by 8.5% in the first quarter. D.A. Davidson & CO. now owns 494,238 shares of the company's stock worth $4,325,000 after buying an additional 38,577 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Global Medical REIT by 120.7% in the fourth quarter. Jane Street Group LLC now owns 102,125 shares of the company's stock worth $788,000 after buying an additional 55,844 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Global Medical REIT by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company's stock worth $13,564,000 after buying an additional 144,671 shares during the last quarter. Two Sigma Investments LP raised its holdings in shares of Global Medical REIT by 84.3% in the fourth quarter. Two Sigma Investments LP now owns 347,113 shares of the company's stock worth $2,680,000 after buying an additional 158,809 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock worth $63,000 after buying an additional 7,190 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Mark Okey Decker, Jr. acquired 102,668 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was bought at an average price of $6.52 per share, with a total value of $669,395.36. Following the completion of the acquisition, the chief executive officer owned 102,668 shares of the company's stock, valued at approximately $669,395.36. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 8.50% of the company's stock.

Global Medical REIT Trading Up 1.2%

Shares of Global Medical REIT stock opened at $6.76 on Friday. 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 fifty day moving average price of $6.71 and a 200 day moving average price of $7.49. Global Medical REIT Inc. has a 1 year low of $6.05 and a 1 year high of $10.46. The stock has a market cap of $452.04 million, a PE ratio of 225.41, a price-to-earnings-growth ratio of 1.15 and a beta of 1.15.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $34.60 million during the quarter, compared to analysts' expectations of $35.49 million. Equities research analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.9%. Global Medical REIT's payout ratio is 2,000.00%.

Analyst Ratings Changes

GMRE has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Robert W. Baird decreased their price target on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company 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.

Want to see what other hedge funds are holding GMRE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Medical REIT Inc. (NYSE:GMRE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.