Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Decreases By 5.3%

Global Medical REIT Inc. (NYSE:GMRE) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 1,250,000 shares, a drop of 5.3% from the April 15th total of 1,320,000 shares. Based on an average daily volume of 414,400 shares, the days-to-cover ratio is currently 3.0 days.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds have recently bought and sold shares of GMRE. B. Riley Wealth Advisors Inc. grew its holdings in shares of Global Medical REIT by 31.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 85,170 shares of the company’s stock valued at $782,000 after acquiring an additional 20,153 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Global Medical REIT by 788.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after purchasing an additional 115,866 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Global Medical REIT by 2.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after purchasing an additional 1,592 shares during the period. Vanguard Group Inc. raised its stake in shares of Global Medical REIT by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock worth $54,367,000 after purchasing an additional 76,267 shares during the period. Finally, M&G Plc purchased a new position in shares of Global Medical REIT in the 1st quarter worth about $141,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Stock Up 1.0 %

NYSE:GMRE traded up $0.09 during trading hours on Thursday, reaching $8.88. The company had a trading volume of 438,180 shares, compared to its average volume of 388,269. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.14. The firm has a market cap of $582.44 million, a price-to-earnings ratio of 38.52, a P/E/G ratio of 1.20 and a beta of 1.13. The business’s 50-day simple moving average is $8.50 and its two-hundred day simple moving average is $9.51.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 22nd were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 9.46%. The ex-dividend date was Thursday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GMRE shares. B. Riley lowered their price target on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th.

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.