Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) CEO Mark Okey Decker, Jr. purchased 57,332 shares of Global Medical REIT stock in a transaction dated Wednesday, June 25th. The shares were acquired at an average cost of $6.50 per share, for a total transaction of $372,658.00. Following the transaction, the chief executive officer now directly owns 160,000 shares of the company's stock, valued at approximately $1,040,000. This represents a 55.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Global Medical REIT Stock Down 1.2%
Shares of GMRE stock traded down $0.08 during trading hours on Wednesday, reaching $6.49. 1,133,455 shares of the stock were exchanged, compared to its average volume of 487,790. The business's fifty day moving average is $6.81 and its two-hundred day moving average is $7.66. The company has a debt-to-equity ratio of 1.44, a current ratio of 0.26 and a quick ratio of 0.26. Global Medical REIT Inc. has a 12-month low of $6.06 and a 12-month high of $10.46. The firm has a market capitalization of $433.99 million, a P/E ratio of 216.41, a P/E/G ratio of 1.12 and a beta of 1.14.
Global Medical REIT (NYSE:GMRE - Get Free Report) last released 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. Global Medical REIT had a net margin of 5.87% and a return on equity of 1.68%. The firm had revenue of $34.60 million for the quarter, compared to analyst estimates of $35.49 million. As a group, research analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.
Global Medical REIT Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 9.24%. Global Medical REIT's payout ratio is currently 2,000.00%.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on GMRE shares. B. Riley started coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 price target on the stock. Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Finally, Robert W. Baird reduced 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 report on Thursday, May 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.44.
Read Our Latest Analysis on GMRE
Hedge Funds Weigh In On Global Medical REIT
A number of hedge funds have recently modified their holdings of GMRE. Man Group plc grew its position in shares of Global Medical REIT by 321.7% during the fourth quarter. Man Group plc now owns 561,022 shares of the company's stock worth $4,331,000 after acquiring an additional 427,987 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $2,904,000. Brown Advisory Inc. grew its position in shares of Global Medical REIT by 21.3% during the first quarter. Brown Advisory Inc. now owns 1,616,524 shares of the company's stock worth $14,145,000 after acquiring an additional 283,581 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Global Medical REIT by 652.3% during the first quarter. Russell Investments Group Ltd. now owns 257,029 shares of the company's stock worth $2,249,000 after acquiring an additional 222,864 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of Global Medical REIT by 94.5% during the fourth quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company's stock worth $3,483,000 after acquiring an additional 219,270 shares during the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.
About Global Medical REIT
(
Get Free Report)
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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