Northern Trust Corp Increases Position in Global Medical REIT Inc. (NYSE:GMRE)

Northern Trust Corp raised its holdings in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 10.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 628,869 shares of the company's stock after purchasing an additional 60,897 shares during the quarter. Northern Trust Corp owned 0.94% of Global Medical REIT worth $4,855,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of GMRE. Quarry LP lifted its stake in shares of Global Medical REIT by 111.5% in the 4th 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 stake 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 valued at $48,000 after acquiring an additional 2,301 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of Global Medical REIT in the 4th quarter valued at $91,000. Commonwealth Equity Services LLC lifted its stake in shares of Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock valued at $98,000 after acquiring an additional 1,819 shares during the last quarter. Finally, Caisse Des Depots ET Consignations bought a new position in Global Medical REIT during the 4th quarter worth $100,000. Institutional investors and hedge funds own 57.52% of the company's stock.

Analysts Set New Price Targets

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

Global Medical REIT Trading Up 2.4%

NYSE GMRE traded up $0.15 during trading on Tuesday, hitting $6.35. 712,645 shares of the company's stock traded hands, compared to its average volume of 464,364. The stock has a fifty day moving average of $7.46 and a two-hundred day moving average of $8.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT Inc. has a 12-month low of $6.06 and a 12-month high of $10.46. The firm has a market cap of $424.63 million, a P/E ratio of -317.34, a PEG ratio of 1.43 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. As a group, sell-side analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 13.23%. The ex-dividend date was Friday, March 21st. Global Medical REIT's dividend payout ratio (DPR) is 2,800.00%.

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.