RMR Advisors LLC boosted its position in shares of Global Medical REIT Inc (NYSE:GMRE) by 13.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 495,467 shares of the company’s stock after purchasing an additional 57,500 shares during the period. Global Medical REIT comprises 1.8% of RMR Advisors LLC’s holdings, making the stock its 14th biggest holding. RMR Advisors LLC owned approximately 1.88% of Global Medical REIT worth $4,865,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. State of Alaska Department of Revenue boosted its position in Global Medical REIT by 19.9% in the 1st quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock valued at $72,000 after buying an additional 1,229 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Global Medical REIT in the 4th quarter valued at about $89,000. Bank of America Corp DE boosted its position in Global Medical REIT by 113.3% in the 4th quarter. Bank of America Corp DE now owns 10,296 shares of the company’s stock valued at $92,000 after buying an additional 5,470 shares during the period. Schnieders Capital Management LLC purchased a new stake in Global Medical REIT in the 4th quarter valued at about $116,000. Finally, Squarepoint Ops LLC purchased a new stake in Global Medical REIT in the 4th quarter valued at about $118,000. Institutional investors own 41.76% of the company’s stock.
In other news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.75, for a total value of $57,963.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.00% of the stock is currently owned by corporate insiders.
Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Janney Montgomery Scott cut shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 price target for the company. in a research report on Wednesday, December 19th. Stifel Nicolaus initiated coverage on shares of Global Medical REIT in a research report on Monday. They issued a “buy” rating and a $11.00 price target for the company. Boenning Scattergood reaffirmed a “buy” rating on shares of Global Medical REIT in a research report on Thursday, March 7th. Finally, B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the stock a “buy” rating in a research report on Friday, March 8th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Global Medical REIT presently has a consensus rating of “Buy” and a consensus price target of $10.67.
Shares of GMRE traded down $0.15 during mid-day trading on Wednesday, hitting $9.80. The company’s stock had a trading volume of 2,902 shares, compared to its average volume of 412,105. Global Medical REIT Inc has a 52-week low of $7.48 and a 52-week high of $11.02. The stock has a market capitalization of $261.88 million, a PE ratio of 12.76, a PEG ratio of 1.32 and a beta of 0.61. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.11 and a current ratio of 0.11.
Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.10. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%. The firm had revenue of $14.38 million during the quarter, compared to analysts’ expectations of $14.46 million. Equities research analysts forecast that Global Medical REIT Inc will post 0.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 26th were given a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 8.16%. Global Medical REIT’s payout ratio is presently 102.56%.
Global Medical REIT Profile
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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