First Trust Advisors LP Buys Shares of 44,797 Global Medical REIT Inc. (NYSE:GMRE)

First Trust Advisors LP acquired a new stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 44,797 shares of the company's stock, valued at approximately $346,000. First Trust Advisors LP owned about 0.07% of Global Medical REIT at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after acquiring an additional 2,301 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Global Medical REIT in the fourth quarter worth about $91,000. Commonwealth Equity Services LLC lifted its holdings in Global Medical REIT by 16.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock worth $98,000 after acquiring an additional 1,819 shares during the last quarter. Caisse Des Depots ET Consignations acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $100,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $178,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Price Performance

NYSE:GMRE traded up $0.03 during trading hours on Monday, reaching $6.85. 759,541 shares of the company's stock were exchanged, compared to its average volume of 450,359. The company has a market capitalization of $457.73 million, a P/E ratio of -342.08, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Global Medical REIT Inc. has a 12 month low of $6.75 and a 12 month high of $10.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The business's 50-day simple moving average is $8.00 and its two-hundred day simple moving average is $8.22.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, hitting analysts' consensus estimates of $0.22. The firm had revenue of $34.60 million during the quarter, compared to analysts' expectations of $35.49 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. Sell-side analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Friday, March 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 12.27%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT's payout ratio is 2,800.00%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Robert W. Baird dropped their price target 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. B. Riley assumed coverage on shares of Global Medical REIT in a research note on Thursday, April 3rd. They set a "neutral" rating and a $9.00 price objective on the stock.

Global Medical REIT Company 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.