OVERSEA CHINESE BANKING Corp Ltd Buys New Position in Global Medical REIT Inc. (NYSE:GMRE)

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,073 shares of the company's stock, valued at approximately $508,000. OVERSEA CHINESE BANKING Corp Ltd owned approximately 0.09% of Global Medical REIT at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Quarry LP raised its stake in Global Medical REIT by 111.5% during the fourth quarter. Quarry LP now owns 4,940 shares of the company's stock worth $38,000 after buying an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after buying an additional 2,301 shares during the last quarter. GAMMA Investing LLC raised its stake in Global Medical REIT by 11,234.4% during the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company's stock worth $63,000 after buying an additional 7,190 shares during the last quarter. Squarepoint Ops LLC bought a new position in Global Medical REIT during the fourth quarter worth $82,000. Finally, Corton Capital Inc. bought a new position in Global Medical REIT during the fourth quarter worth $85,000. Institutional investors and hedge funds own 57.52% of the company's stock.

Insider Activity at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $372,658.00. Following the completion of the purchase, the chief executive officer directly owned 160,000 shares of the company's stock, valued at $1,040,000. This trade represents a 55.84% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GMRE. B. Riley began coverage on shares of Global Medical REIT in a research note on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price target for the company. Robert W. Baird dropped their target price on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating on the stock in a research note on Thursday, May 8th. Finally, Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. 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 0.3%

Shares of NYSE GMRE traded up $0.02 during mid-day trading on Friday, reaching $7.18. The company had a trading volume of 437,512 shares, compared to its average volume of 518,110. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44. Global Medical REIT Inc. has a 52 week low of $6.06 and a 52 week high of $10.46. The business's 50-day moving average is $6.64 and its 200-day moving average is $7.54. The stock has a market cap of $480.13 million, a price-to-earnings ratio of 239.41, a price-to-earnings-growth ratio of 1.22 and a beta of 1.16.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting the consensus estimate of $0.22. The firm had revenue of $34.60 million for the quarter, compared to analysts' expectations of $35.49 million. Global Medical REIT had a net margin of 5.87% and a return on equity of 1.68%. Equities analysts expect that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 8.36%. Global Medical REIT's payout ratio is currently 2,000.00%.

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.