Russell Investments Group Ltd. Increases Holdings in Global Medical REIT Inc. $GMRE

Key Points

• Russell Investments Group Ltd. increased its stake in Global Medical REIT by 652.3% in the first quarter, acquiring an additional 222,864 shares, bringing its total to 257,029 shares worth approximately $2.25 million.
• Global Medical REIT recently declared a dividend of $0.15 per share, yielding 8.1%, but its payout ratio stands at an unsustainable 857.14%.
• A stock buyback program has been authorized for up to $50 million, indicating management's belief that the shares are undervalued amid mixed ratings from analysts.

Russell Investments Group Ltd. raised its position in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 652.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 257,029 shares of the company's stock after buying an additional 222,864 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.38% of Global Medical REIT worth $2,249,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc lifted its stake in Global Medical REIT by 2.5% in the fourth quarter. Legal & General Group Plc now owns 61,525 shares of the company's stock valued at $475,000 after buying an additional 1,496 shares during the last quarter. Quarry LP lifted its stake in Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company's stock valued at $38,000 after buying an additional 2,604 shares during the last quarter. Arrow Investment Advisors LLC lifted its stake in 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 buying an additional 3,030 shares during the last quarter. Deutsche Bank AG lifted its stake in Global Medical REIT by 13.0% in the fourth quarter. Deutsche Bank AG now owns 45,544 shares of the company's stock valued at $352,000 after buying an additional 5,223 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Global Medical REIT by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 17,111 shares of the company's stock valued at $132,000 after buying an additional 5,629 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen downgraded Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd. Robert W. Baird lowered their target price on 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. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.44.

Insider Activity

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 102,668 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was acquired at an average cost of $6.52 per share, with a total value of $669,395.36. Following the purchase, the chief executive officer owned 102,668 shares in the company, valued at approximately $669,395.36. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders purchased 161,350 shares of company stock worth $1,052,016. Corporate insiders own 8.50% of the company's stock.

Global Medical REIT Stock Performance

Shares of GMRE stock traded up $0.12 during trading hours on Friday, reaching $7.50. 553,614 shares of the company's stock were exchanged, compared to its average volume of 771,443. The company has a market cap of $501.27 million, a P/E ratio of 107.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.16. The company's 50 day moving average is $6.97 and its two-hundred day moving average is $7.35. Global Medical REIT Inc. has a 1 year low of $6.05 and a 1 year 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 issued its earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $37.88 million during the quarter, compared to the consensus estimate of $35.57 million. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. Equities research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT declared that its Board of Directors has initiated a share repurchase program on Wednesday, August 13th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its stock is undervalued.

Global Medical REIT Profile

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.