Goldman Sachs Group Inc. increased its stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 388,605 shares of the company's stock after purchasing an additional 45,243 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.58% of Global Medical REIT worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Global Medical REIT by 11,234.4% during the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock valued at $63,000 after acquiring an additional 7,190 shares during the period. State of Wyoming purchased a new position in Global Medical REIT during the 1st quarter worth approximately $65,000. Squarepoint Ops LLC acquired a new stake in Global Medical REIT during the 4th quarter valued at $82,000. Strs Ohio purchased a new stake in shares of Global Medical REIT in the first quarter valued at $95,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Global Medical REIT in the first quarter worth $101,000. 57.52% of the stock is owned by hedge funds and other institutional investors.
Global Medical REIT Stock Up 1.1%
Shares of GMRE stock traded up $0.41 on Monday, reaching $38.06. 300,205 shares of the company's stock traded hands, compared to its average volume of 700,786. The company has a market capitalization of $2.55 billion, a P/E ratio of 543.69 and a beta of 1.16. Global Medical REIT Inc. has a 12-month low of $30.27 and a 12-month high of $49.90. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.28 and a current ratio of 0.28. The business's 50 day moving average price is $35.82 and its two-hundred day moving average price is $36.19.
Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.15 EPS for the quarter, hitting analysts' consensus estimates of $1.15. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%.The firm had revenue of $37.88 million during the quarter, compared to analyst estimates of $35.57 million. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. On average, equities analysts forecast that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.
Global Medical REIT announced that its board has initiated a share repurchase plan on Wednesday, August 13th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the company to reacquire up to 11.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.
Global Medical REIT Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 29th will be paid a $0.75 dividend. The ex-dividend date is Monday, September 29th. This represents a $3.00 annualized dividend and a yield of 7.9%. This is a boost from Global Medical REIT's previous quarterly dividend of $0.15. Global Medical REIT's dividend payout ratio (DPR) is currently 857.14%.
Insider Transactions at Global Medical REIT
In related news, CEO Mark Okey Decker, Jr. bought 11,466 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was bought at an average price of $32.50 per share, with a total value of $372,645.00. Following the purchase, the chief executive officer directly owned 32,000 shares of the company's stock, valued at approximately $1,040,000. This represents a 55.84% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have purchased 32,269 shares of company stock valued at $1,051,984. 8.50% of the stock is owned by corporate insiders.
Global Medical REIT Company Profile
(
Free Report)
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.
Featured Stories
Before you consider Global Medical REIT, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Global Medical REIT wasn't on the list.
While Global Medical REIT currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
