Goldman Sachs Group Inc. Increases Position in Global Medical REIT Inc. $GMRE

Key Points

• Goldman Sachs Group Inc. increased its stake in Global Medical REIT Inc. by 13.2%, owning approximately 388,605 shares valued at $3.4 million as of the latest SEC filing.
• The company announced a significant increase in its quarterly dividend to $0.75 per share, marking a boost from the previous $0.15, alongside a share buyback plan allowing repurchase of $50 million in shares.
• Global Medical REIT's stock is set for a 1-5 reverse split scheduled for September 22nd, which will adjust the number of shares owned by shareholders.

Goldman Sachs Group Inc. boosted its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 13.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 388,605 shares of the company's stock after purchasing an additional 45,243 shares during the period. Goldman Sachs Group Inc. owned about 0.58% of Global Medical REIT worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also modified their holdings of GMRE. Arrow Investment Advisors LLC raised its position in shares of Global Medical REIT by 17.8% during the 1st quarter. Arrow Investment Advisors LLC now owns 20,061 shares of the company's stock worth $176,000 after purchasing an additional 3,030 shares during the last quarter. Intrua Financial LLC grew its stake in shares of Global Medical REIT by 8.4% in the 1st quarter. Intrua Financial LLC now owns 48,600 shares of the company's stock valued at $425,000 after buying an additional 3,754 shares during the period. AQR Capital Management LLC grew its stake in shares of Global Medical REIT by 9.5% in the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company's stock valued at $512,000 after buying an additional 5,062 shares during the period. Deutsche Bank AG grew its stake in shares of Global Medical REIT by 13.0% in the 4th quarter. Deutsche Bank AG now owns 45,544 shares of the company's stock valued at $352,000 after buying an additional 5,223 shares during the period. Finally, ProShare Advisors LLC grew its stake in shares of Global Medical REIT by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 17,111 shares of the company's stock valued at $132,000 after buying an additional 5,629 shares during the period. Institutional investors and hedge funds own 57.52% of the company's stock.

Global Medical REIT Stock Performance

Shares of GMRE opened at $7.74 on Friday. Global Medical REIT Inc. has a 12-month low of $6.05 and a 12-month high of $10.46. The company has a 50-day moving average of $7.15 and a two-hundred day moving average of $7.28. The stock has a market cap of $517.65 million, a P/E ratio of 110.57 and a beta of 1.16. 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's stock is scheduled to reverse split before the market opens on Monday, September 22nd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, September 21st.

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

Global Medical REIT Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 29th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, September 29th. This is a boost from Global Medical REIT's previous quarterly dividend of $0.15. This represents a $3.00 annualized dividend and a yield of 38.8%. Global Medical REIT's payout ratio is 857.14%.

Global Medical REIT declared that its board has initiated a share 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Global Medical REIT presently has an average rating of "Hold" and an average target price of $9.92.

Insiders Place Their Bets

In other news, CEO Mark Okey Decker, Jr. purchased 102,668 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were bought at an average price of $6.52 per share, with a total value of $669,395.36. Following the completion of the transaction, the chief executive officer directly owned 102,668 shares in the company, valued at $669,395.36. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased a total of 161,350 shares of company stock worth $1,052,016 over the last 90 days. 8.50% of the stock is currently owned by company insiders.

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.

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