Royal Fund Management LLC Raises Stake in Global Medical REIT Inc. (NYSE:GMRE)

Royal Fund Management LLC lifted its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 2.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 77,017 shares of the company’s stock after purchasing an additional 1,997 shares during the quarter. Royal Fund Management LLC owned about 0.12% of Global Medical REIT worth $855,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. LSV Asset Management acquired a new position in Global Medical REIT during the 4th quarter worth approximately $5,386,000. Brown Advisory Inc. raised its position in shares of Global Medical REIT by 27.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,423,088 shares of the company’s stock valued at $12,765,000 after purchasing an additional 302,326 shares in the last quarter. abrdn plc acquired a new position in shares of Global Medical REIT in the 4th quarter valued at approximately $1,941,000. Allspring Global Investments Holdings LLC raised its position in shares of Global Medical REIT by 35.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,223 shares of the company’s stock valued at $3,255,000 after purchasing an additional 77,008 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Global Medical REIT by 6.9% in the 3rd quarter. Invesco Ltd. now owns 1,030,423 shares of the company’s stock valued at $9,243,000 after purchasing an additional 66,802 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th.

Global Medical REIT Stock Performance

Shares of GMRE stock traded up $0.07 on Friday, hitting $8.40. 356,462 shares of the stock traded hands, compared to its average volume of 409,820. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.17 and a quick ratio of 0.17. The company has a market capitalization of $550.79 million, a PE ratio of 36.52 and a beta of 1.13. Global Medical REIT Inc. has a 1-year low of $7.98 and a 1-year high of $11.59. The company’s fifty day moving average is $8.56 and its 200 day moving average is $9.50.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Friday, March 22nd were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 10.00%. Global Medical REIT’s payout ratio is currently 365.22%.

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.