Global Medical REIT Inc. $GMRE Shares Purchased by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services LLC increased its stake in Global Medical REIT Inc. by 22.8% in Q1, now owning approximately 0.47% of the company worth $2.77 million.
• Global Medical REIT declared a $50 million stock repurchase plan, indicating management's belief that the stock is undervalued.
• Analysts have set a consensus price target of $10.44 for Global Medical REIT, though Wall Street Zen recently lowered its rating from “hold” to “sell.”

Kestra Advisory Services LLC increased its holdings in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 22.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,287 shares of the company's stock after purchasing an additional 58,793 shares during the quarter. Kestra Advisory Services LLC owned 0.47% of Global Medical REIT worth $2,768,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quarry LP grew its position in shares of Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company's stock valued at $38,000 after purchasing an additional 2,604 shares during the period. GAMMA Investing LLC lifted its stake in Global Medical REIT by 11,234.4% in the 1st quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock valued at $63,000 after buying an additional 7,190 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in Global Medical REIT in the 4th quarter worth about $82,000. Corton Capital Inc. purchased a new stake in Global Medical REIT during the 4th quarter worth approximately $85,000. Finally, Ballentine Partners LLC acquired a new position in shares of Global Medical REIT during the first quarter valued at approximately $101,000. Hedge funds and other institutional investors own 57.52% of the company's stock.

Global Medical REIT Trading Up 0.2%

Shares of Global Medical REIT stock traded up $0.01 during mid-day trading on Wednesday, hitting $7.33. The stock had a trading volume of 109,101 shares, compared to its average volume of 624,096. The firm has a 50-day moving average of $7.01 and a two-hundred day moving average of $7.35. The firm has a market cap of $490.43 million, a P/E ratio of 104.79, a price-to-earnings-growth ratio of 1.28 and a beta of 1.16. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.56. Global Medical REIT Inc. has a 12-month low of $6.05 and a 12-month high of $10.46.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $37.88 million for the quarter, compared to the consensus estimate of $35.57 million. Global Medical REIT had a net margin of 7.32% and a return on equity of 2.21%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. Sell-side analysts forecast 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 share repurchase program on Wednesday, August 13th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 11.1% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 102,668 shares of Global Medical REIT stock in a transaction dated Tuesday, June 24th. The stock was acquired at an average cost of $6.52 per share, with a total value of $669,395.36. Following the acquisition, the chief executive officer directly owned 102,668 shares of the company's stock, valued at $669,395.36. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have acquired 161,350 shares of company stock worth $1,052,016. 8.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

GMRE has been the subject of several recent research reports. Wall Street Zen lowered 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 on the stock in a research note 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's stock. Based on data from MarketBeat.com, Global Medical REIT has a consensus rating of "Moderate Buy" and a consensus price target 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.