Millennium Management LLC Reduces Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Millennium Management LLC cut its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 76.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,397 shares of the company's stock after selling 124,630 shares during the period. Millennium Management LLC owned about 0.06% of Global Medical REIT worth $289,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP boosted its holdings 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 acquiring an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after purchasing an additional 2,301 shares in the last quarter. Corton Capital Inc. acquired a new position in shares of Global Medical REIT during the fourth quarter valued at about $85,000. KLP Kapitalforvaltning AS acquired a new position in Global Medical REIT during the 4th quarter valued at about $91,000. Finally, Commonwealth Equity Services LLC boosted its position in shares of Global Medical REIT by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock valued at $98,000 after buying an additional 1,819 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company's stock.

Global Medical REIT Price Performance

GMRE traded down $0.13 during trading on Friday, reaching $6.29. The stock had a trading volume of 545,534 shares, compared to its average volume of 474,662. The business has a 50-day moving average of $6.96 and a 200-day moving average of $7.80. Global Medical REIT Inc. has a one year low of $6.06 and a one year high of $10.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market cap of $420.89 million, a PE ratio of -314.54, a PEG ratio of 1.43 and a beta of 1.14.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share (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 0.86% and a net margin of 3.23%. As a group, equities research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.53%. Global Medical REIT's payout ratio is 2,000.00%.

Wall Street Analysts Forecast Growth

GMRE has been the subject of several analyst reports. Robert W. Baird decreased their price objective on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, May 8th. B. Riley assumed coverage on Global Medical REIT in a report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price target for the company. Finally, 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Global Medical REIT has an average rating of "Hold" and an average target price 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.