Global Medical REIT (NYSE:GMRE) Shares to Reverse Split on Monday, September 22nd

Key Points

• Global Medical REIT is set to conduct a 1-for-5 reverse stock split on September 22nd, adjusting the number of shares owned by shareholders after the market closes on September 21st.
• The company has announced an increase in its quarterly dividend to $0.75 from the previous $0.15, with a dividend yield of 39.5%.
• CEO Mark Okey Decker, Jr. purchased over 102,000 shares of the company stock, indicating confidence in the company's value.

Global Medical REIT Inc. (NYSE:GMRE - Free Report) shares are scheduled to reverse split before the market opens on Monday, September 22nd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, September 21st.

Global Medical REIT Trading Down 2.5%

GMRE traded down $0.19 during trading on Friday, hitting $7.54. The company's stock had a trading volume of 2,583,387 shares, compared to its average volume of 629,130. Global Medical REIT has a twelve month low of $6.05 and a twelve month high of $9.98. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.56. The stock's fifty day moving average price is $7.15 and its 200-day moving average price is $7.27. The firm has a market capitalization of $504.28 million, a P/E ratio of 107.71 and a beta of 1.16.

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 for the quarter, hitting analysts' consensus estimates of $0.23. Global Medical REIT had a return on equity of 2.21% and a net margin of 7.32%.The company had revenue of $37.88 million for the quarter, compared to analyst estimates of $35.57 million. Global Medical REIT has set its FY 2025 guidance at 0.890-0.930 EPS. Analysts anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 29th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, September 29th. This is a positive change from Global Medical REIT's previous quarterly dividend of $0.15. This represents a $3.00 dividend on an annualized basis and a dividend yield of 39.8%. Global Medical REIT's payout ratio is currently 857.14%.

Global Medical REIT declared that its Board of Directors has authorized a share repurchase program on Wednesday, August 13th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 11.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. bought 102,668 shares of the stock in a transaction dated Tuesday, June 24th. The shares were bought at an average cost of $6.52 per share, with a total value of $669,395.36. Following the completion of the transaction, the chief executive officer directly owned 102,668 shares of the company's stock, valued at $669,395.36. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders purchased 161,350 shares of company stock worth $1,052,016 over the last quarter. 8.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors have recently bought and sold shares of the stock. D.A. Davidson & CO. grew its holdings in Global Medical REIT by 8.5% during the first quarter. D.A. Davidson & CO. now owns 494,238 shares of the company's stock worth $4,325,000 after buying an additional 38,577 shares in the last quarter. Jane Street Group LLC grew its stake in Global Medical REIT by 120.7% in the 4th quarter. Jane Street Group LLC now owns 102,125 shares of the company's stock valued at $788,000 after purchasing an additional 55,844 shares during the period. Bank of New York Mellon Corp grew its stake in Global Medical REIT by 10.3% in the 1st quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company's stock valued at $13,564,000 after purchasing an additional 144,671 shares during the period. Deutsche Bank AG grew its stake in Global Medical REIT by 76.6% in the 1st quarter. Deutsche Bank AG now owns 80,435 shares of the company's stock valued at $704,000 after purchasing an additional 34,891 shares during the period. Finally, Two Sigma Investments LP grew its stake in shares of Global Medical REIT by 84.3% during the 4th quarter. Two Sigma Investments LP now owns 347,113 shares of the company's stock worth $2,680,000 after acquiring an additional 158,809 shares during the period. Institutional investors 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.