Insider Buying: Global Medical REIT Inc. (NYSE:GMRE) CEO Acquires 102,668 Shares of Stock

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) CEO Mark Okey Decker, Jr. bought 102,668 shares of the stock in a transaction dated Tuesday, June 24th. The shares were acquired at an average price of $6.52 per share, for a total transaction of $669,395.36. Following the completion of the purchase, the chief executive officer now directly owns 102,668 shares in the company, valued at approximately $669,395.36. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Global Medical REIT Stock Performance

Shares of NYSE GMRE traded down $0.08 during trading on Wednesday, reaching $6.49. 1,133,455 shares of the stock traded hands, compared to its average volume of 487,790. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.26 and a quick ratio of 0.26. The stock has a market capitalization of $433.99 million, a P/E ratio of 216.41, a price-to-earnings-growth ratio of 1.12 and a beta of 1.14. Global Medical REIT Inc. has a 52-week low of $6.06 and a 52-week high of $10.46. The company has a 50-day moving average of $6.81 and a 200-day moving average of $7.66.

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

Global Medical REIT Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 9.24%. Global Medical REIT's dividend payout ratio (DPR) is currently 2,000.00%.

Analysts Set New Price Targets

GMRE has been the subject of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of Global Medical REIT from $10.00 to $9.00 and set a "neutral" rating for the company in a report on Thursday, May 8th. Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, 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 target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $10.44.

Institutional Trading of Global Medical REIT

A number of institutional investors have recently modified their holdings of GMRE. Strs Ohio purchased a new position in Global Medical REIT in the 1st quarter valued at approximately $95,000. Intrua Financial LLC boosted its holdings in shares of Global Medical REIT by 8.4% in the first quarter. Intrua Financial LLC now owns 48,600 shares of the company's stock worth $425,000 after acquiring an additional 3,754 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock valued at $3,400,000 after purchasing an additional 45,243 shares in the last quarter. Jones Financial Companies Lllp raised its stake in shares of Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company's stock valued at $210,000 after purchasing an additional 23,920 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Medical REIT by 10.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,395,416 shares of the company's stock valued at $12,210,000 after purchasing an additional 135,318 shares during the period. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.

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