Kestra Private Wealth Services LLC purchased a new position in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 36,607 shares of the company's stock, valued at approximately $320,000. Kestra Private Wealth Services LLC owned approximately 0.05% of Global Medical REIT as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Quarry LP increased its stake in 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 last quarter. GAMMA Investing LLC increased its stake in Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock valued at $63,000 after purchasing an additional 7,190 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $82,000. Corton Capital Inc. acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $85,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $91,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
GMRE has been the subject of several research analyst reports. Robert W. Baird decreased their price objective 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. B. Riley initiated coverage on Global Medical REIT in a report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price objective for the company. Finally, Wall Street Zen downgraded Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $10.44.
View Our Latest Stock Analysis on GMRE
Global Medical REIT Stock Performance
Shares of NYSE GMRE traded down $0.02 during mid-day trading on Thursday, hitting $6.68. 107,737 shares of the company were exchanged, compared to its average volume of 605,404. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.44. The stock has a 50 day simple moving average of $6.69 and a 200-day simple moving average of $7.51. Global Medical REIT Inc. has a 1-year low of $6.05 and a 1-year high of $10.46. The firm has a market cap of $446.50 million, a price-to-earnings ratio of 222.91, a price-to-earnings-growth ratio of 1.20 and a beta of 1.16.
Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $34.60 million during the quarter, compared to analysts' expectations of $35.49 million. Global Medical REIT had a return on equity of 1.68% and a net margin of 5.87%. On average, sell-side analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.
Global Medical REIT Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.99%. Global Medical REIT's dividend payout ratio is currently 2,000.00%.
Insider Buying and Selling at Global Medical REIT
In related news, CEO Mark Okey Decker, Jr. purchased 102,668 shares of Global Medical REIT stock in a transaction that occurred on Tuesday, June 24th. The shares were purchased at an average cost of $6.52 per share, with a total value of $669,395.36. Following the transaction, the chief executive officer owned 102,668 shares of the company's stock, valued at approximately $669,395.36. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by corporate insiders.
About Global Medical REIT
(
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.
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