Global Medical REIT Inc. (NYSE:GMRE) Sees Significant Growth in Short Interest

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,800,000 shares, an increase of 30.4% from the March 15th total of 1,380,000 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average daily trading volume, of 542,500 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

Separately, B. Riley initiated coverage on Global Medical REIT in a report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 target price for the company.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock traded up $0.01 during trading on Thursday, hitting $7.67. 35,963 shares of the stock were exchanged, compared to its average volume of 536,847. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT has a 12 month low of $6.75 and a 12 month high of $10.46. The stock's fifty day moving average is $8.22 and its 200 day moving average is $8.38. The stock has a market cap of $512.90 million, a PE ratio of -383.56, a P/E/G ratio of 1.43 and a beta of 1.12.

Global Medical REIT (NYSE:GMRE - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.01 by $0.21. The company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.87 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 anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 10.95%. Global Medical REIT's dividend payout ratio (DPR) is presently 8,400.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in Global Medical REIT by 1.5% during the 3rd quarter. State Street Corp now owns 1,924,433 shares of the company's stock valued at $19,468,000 after purchasing an additional 28,444 shares in the last quarter. Geode Capital Management LLC boosted its stake in Global Medical REIT by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company's stock valued at $12,724,000 after buying an additional 25,820 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Global Medical REIT by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company's stock worth $9,728,000 after acquiring an additional 128,449 shares during the period. Charles Schwab Investment Management Inc. raised its position in Global Medical REIT by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 877,096 shares of the company's stock worth $6,771,000 after acquiring an additional 23,993 shares in the last quarter. Finally, Pacific Ridge Capital Partners LLC raised its position in Global Medical REIT by 31.9% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company's stock worth $5,497,000 after acquiring an additional 172,171 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company's 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.