MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 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. increased its position in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,395,416 shares of the company's stock after purchasing an additional 135,318 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 2.09% of Global Medical REIT worth $12,210,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Global Medical REIT by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 6,400,340 shares of the company's stock worth $56,003,000 after purchasing an additional 82,503 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Global Medical REIT by 21.3% during the 1st quarter. Brown Advisory Inc. now owns 1,616,524 shares of the company's stock worth $14,145,000 after purchasing an additional 283,581 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Global Medical REIT by 10.3% during the 1st quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company's stock worth $13,564,000 after acquiring an additional 144,671 shares during the last quarter. Northern Trust Corp grew its holdings in Global Medical REIT by 10.7% during the 4th quarter. Northern Trust Corp now owns 628,869 shares of the company's stock worth $4,855,000 after acquiring an additional 60,897 shares during the last quarter. Finally, Man Group plc grew its holdings in Global Medical REIT by 321.7% during the 4th quarter. Man Group plc now owns 561,022 shares of the company's stock worth $4,331,000 after acquiring an additional 427,987 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company's stock.

Wall Street Analysts Forecast Growth

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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Global Medical REIT has an average rating of "Moderate Buy" and an average target price of $10.44.

Global Medical REIT Trading Down 0.1%

Shares of NYSE GMRE traded down $0.01 during mid-day trading on Friday, hitting $7.64. The company's stock had a trading volume of 501,132 shares, compared to its average volume of 624,739. The stock has a market cap of $510.63 million, a price-to-earnings ratio of 109.07, a price-to-earnings-growth ratio of 1.31 and a beta of 1.16. 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 Inc. has a one year low of $6.05 and a one year high of $10.46. The company's fifty day simple moving average is $7.10 and its 200-day simple moving average is $7.31.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $37.88 million for the quarter, compared to analyst estimates 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. On average, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Increases Dividend

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

Global Medical REIT declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 13th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 11.1% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Activity

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 102,668 shares of Global Medical REIT stock in a transaction dated Tuesday, June 24th. The shares were bought at an average price of $6.52 per share, with a total value of $669,395.36. Following the purchase, the chief executive officer owned 102,668 shares of the company's stock, valued at $669,395.36. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 161,350 shares of company stock valued at $1,052,016. 8.50% of the stock is currently owned by company insiders.

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.