Renaissance Technologies LLC Acquires 42,005 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Renaissance Technologies LLC increased its holdings in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 366,105 shares of the company's stock after acquiring an additional 42,005 shares during the period. Renaissance Technologies LLC owned about 0.55% of Global Medical REIT worth $2,826,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in shares of Global Medical REIT by 94.5% in the 4th quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company's stock worth $3,483,000 after buying an additional 219,270 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Global Medical REIT in the fourth quarter valued at about $1,430,000. Pacific Ridge Capital Partners LLC grew its position in shares of Global Medical REIT by 31.9% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company's stock valued at $5,497,000 after acquiring an additional 172,171 shares during the period. Franklin Resources Inc. increased its stake in shares of Global Medical REIT by 228.9% during the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company's stock worth $1,073,000 after purchasing an additional 80,030 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company's stock worth $1,527,000 after purchasing an additional 71,704 shares during the period. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Global Medical REIT Stock Performance

Shares of NYSE GMRE traded down $0.05 during midday trading on Wednesday, hitting $7.74. The company's stock had a trading volume of 438,059 shares, compared to its average volume of 446,015. The stock has a fifty day moving average price of $8.16 and a 200 day moving average price of $8.33. The firm has a market capitalization of $517.58 million, a price-to-earnings ratio of -386.81, a P/E/G ratio of 1.43 and a beta of 1.12. Global Medical REIT Inc. has a one year low of $6.75 and a one year high of $10.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.21. The firm had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. On average, research analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 10.85%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT's dividend payout ratio is presently 8,400.00%.

Global Medical REIT 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.