Northern Trust Corp Has $4.86 Million Stake in Global Medical REIT Inc. (NYSE:GMRE)

Northern Trust Corp increased its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 628,869 shares of the company's stock after buying an additional 60,897 shares during the quarter. Northern Trust Corp owned 0.94% of Global Medical REIT worth $4,855,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Financial Inc. bought a new position in Global Medical REIT in the 4th quarter valued at $1,430,000. New Age Alpha Advisors LLC bought a new position in Global Medical REIT in the 4th quarter valued at $263,000. Price T Rowe Associates Inc. MD raised its position in Global Medical REIT by 39.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 228,821 shares of the company's stock valued at $1,767,000 after purchasing an additional 64,164 shares during the last quarter. Aew Capital Management L P bought a new position in Global Medical REIT in the 4th quarter valued at $230,000. Finally, Proficio Capital Partners LLC bought a new position in Global Medical REIT in the 4th quarter valued at $178,000. Institutional investors own 57.52% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on GMRE shares. B. Riley started coverage on Global Medical REIT in a research report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price objective for the company. Robert W. Baird cut their price objective on Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Finally, Wall Street Zen downgraded Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Thursday. 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, Global Medical REIT currently has an average rating of "Hold" and a consensus price target of $10.44.

Global Medical REIT Trading Up 0.9%

Shares of NYSE GMRE traded up $0.05 during midday trading on Friday, hitting $6.21. The stock had a trading volume of 540,674 shares, compared to its average volume of 463,673. The company's 50-day simple moving average is $7.56 and its 200 day simple moving average is $8.05. The firm has a market cap of $415.47 million, a P/E ratio of -310.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Global Medical REIT Inc. has a fifty-two week low of $6.06 and a fifty-two week high of $10.46. 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 (NYSE:GMRE - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, meeting the consensus estimate of $0.22. The company 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%. Research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 13.52%. Global Medical REIT's dividend payout ratio (DPR) is currently 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.