Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 76.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 37,397 shares of the company's stock after selling 124,630 shares during the period. Millennium Management LLC owned 0.06% of Global Medical REIT worth $289,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of GMRE. Quarry LP boosted its holdings 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. PNC Financial Services Group Inc. lifted its holdings in Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after buying an additional 2,301 shares during the period. Corton Capital Inc. purchased a new stake in Global Medical REIT during the fourth quarter worth $85,000. KLP Kapitalforvaltning AS purchased a new stake in Global Medical REIT during the fourth quarter worth $91,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Global Medical REIT by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock worth $98,000 after buying an additional 1,819 shares during the period. Hedge funds and other institutional investors own 57.52% of the company's stock.

Analysts Set New Price Targets

GMRE has been the subject of a number of analyst reports. Wall Street Zen lowered Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. B. Riley initiated coverage on Global Medical REIT in a report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 target price for the company. Finally, Robert W. Baird lowered their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $10.44.

Global Medical REIT Stock Up 0.6%

Global Medical REIT stock traded up $0.04 during mid-day trading on Thursday, reaching $6.42. 734,532 shares of the company were exchanged, compared to its average volume of 473,543. The business has a fifty day moving average of $6.99 and a 200 day moving average of $7.83. The firm has a market cap of $429.31 million, a P/E ratio of -320.84, a PEG ratio of 1.43 and a beta of 1.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a 12-month low of $6.06 and a 12-month high of $10.46.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.22. The business had revenue of $34.60 million for the quarter, compared to the consensus estimate of $35.49 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. Research analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.35%. Global Medical REIT's payout ratio is presently 2,000.00%.

About Global Medical REIT

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.