Teachers Insurance & Annuity Association of America lessened its holdings in Global Medical REIT Inc (NYSE:GMRE) by 24.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,044 shares of the company’s stock after selling 6,869 shares during the period. Teachers Insurance & Annuity Association of America owned about 0.06% of Global Medical REIT worth $206,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in GMRE. Schnieders Capital Management LLC acquired a new position in shares of Global Medical REIT in the fourth quarter worth approximately $116,000. Martingale Asset Management L P bought a new stake in shares of Global Medical REIT during the third quarter valued at approximately $285,000. B. Riley Wealth Management Inc. increased its holdings in shares of Global Medical REIT by 18.2% during the fourth quarter. B. Riley Wealth Management Inc. now owns 31,444 shares of the company’s stock valued at $280,000 after acquiring an additional 4,845 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Global Medical REIT by 1.1% during the fourth quarter. Janney Montgomery Scott LLC now owns 111,188 shares of the company’s stock valued at $988,000 after acquiring an additional 1,181 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in shares of Global Medical REIT by 0.9% during the third quarter. BlackRock Inc. now owns 1,020,193 shares of the company’s stock valued at $9,609,000 after acquiring an additional 9,460 shares in the last quarter. Hedge funds and other institutional investors own 35.55% of the company’s stock.
Shares of Global Medical REIT stock opened at $10.70 on Wednesday. Global Medical REIT Inc has a 12-month low of $8.10 and a 12-month high of $11.02. The firm has a market cap of $357.21 million, a P/E ratio of 13.72, a P/E/G ratio of 1.51 and a beta of 0.61. The company has a quick ratio of 0.11, a current ratio of 0.08 and a debt-to-equity ratio of 0.76.
In other Global Medical REIT news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.75, for a total value of $57,963.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.70% of the company’s stock.
Several equities research analysts have recently commented on GMRE shares. Zacks Investment Research downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Boenning Scattergood restated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. B. Riley set a $11.00 price objective on Global Medical REIT and gave the company a “buy” rating in a report on Friday, March 8th. Stifel Nicolaus started coverage on Global Medical REIT in a report on Monday, April 15th. They set a “buy” rating and a $11.00 price objective for the company. Finally, TheStreet upgraded Global Medical REIT from a “c+” rating to a “b” rating in a report on Thursday, May 9th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $10.67.
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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