MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 135,318 Shares of Global Medical REIT Inc. $GMRE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Global Medical REIT Inc. by 10.7% in Q1, now owning 1,395,416 shares worth approximately $12.21 million.
• Global Medical REIT declared a quarterly dividend of $0.75 per share, significantly up from its previous $0.15, indicating a strong commitment to returning value to shareholders.
• Insider activity includes CEO Mark Okey Decker purchasing 102,668 shares in June for about $669,395, reflecting confidence in the company’s growth potential.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 10.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,416 shares of the company's stock after purchasing an additional 135,318 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 2.09% of Global Medical REIT worth $12,210,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Arrow Investment Advisors LLC increased its holdings in shares of Global Medical REIT by 17.8% in the first quarter. Arrow Investment Advisors LLC now owns 20,061 shares of the company's stock valued at $176,000 after purchasing an additional 3,030 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company's stock valued at $512,000 after purchasing an additional 5,062 shares in the last quarter. Deutsche Bank AG grew its holdings in Global Medical REIT by 13.0% during the 4th quarter. Deutsche Bank AG now owns 45,544 shares of the company's stock worth $352,000 after acquiring an additional 5,223 shares during the period. ProShare Advisors LLC grew its holdings in Global Medical REIT by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 17,111 shares of the company's stock worth $132,000 after acquiring an additional 5,629 shares during the period. Finally, The Manufacturers Life Insurance Company grew its holdings in Global Medical REIT by 12.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 54,442 shares of the company's stock worth $420,000 after acquiring an additional 6,116 shares during the period. Institutional investors and hedge funds own 57.52% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.44.

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. purchased 102,668 shares of Global Medical REIT stock in a transaction dated Tuesday, June 24th. The shares were bought at an average cost of $6.52 per share, with a total value of $669,395.36. Following the completion of the transaction, the chief executive officer directly owned 102,668 shares in the company, valued at $669,395.36. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired 161,350 shares of company stock worth $1,052,016 over the last quarter. Company insiders own 8.50% of the company's stock.

Global Medical REIT Trading Down 0.1%

Shares of NYSE GMRE traded down $0.01 during midday trading on Friday, reaching $7.64. 501,132 shares of the stock were exchanged, compared to its average volume of 624,047. The business has a 50-day simple moving average of $7.11 and a two-hundred day simple moving average of $7.29. The company has a market capitalization of $510.63 million, a price-to-earnings ratio of 109.07 and a beta of 1.16. Global Medical REIT Inc. has a 12 month low of $6.05 and a 12 month high of $10.46. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.28 and a quick ratio of 0.28.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The company had revenue of $37.88 million for the quarter, compared to analysts' expectations 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. As a group, equities research analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be given a dividend of $0.75 per share. This is a positive change from Global Medical REIT's previous quarterly dividend of $0.15. This represents a $3.00 dividend on an annualized basis and a dividend yield of 39.3%. The ex-dividend date of this dividend is Monday, September 29th. Global Medical REIT's payout ratio is 857.14%.

Global Medical REIT announced that its board has approved a stock repurchase plan on Wednesday, August 13th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 11.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its stock is undervalued.

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.