Global Medical REIT Inc. (NYSE:GMRE) Shares Purchased by Phocas Financial Corp.

Phocas Financial Corp. raised its stake in shares of Global Medical REIT Inc. (NYSE:GMRE – Get Rating) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 818,272 shares of the company’s stock after buying an additional 135,396 shares during the quarter. Global Medical REIT comprises about 1.1% of Phocas Financial Corp.’s investment portfolio, making the stock its 23rd biggest position. Phocas Financial Corp. owned about 1.25% of Global Medical REIT worth $7,757,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. GPS Wealth Strategies Group LLC purchased a new position in shares of Global Medical REIT during the 3rd quarter worth $25,000. Capital Analysts LLC purchased a new position in shares of Global Medical REIT in the 2nd quarter worth $26,000. Captrust Financial Advisors purchased a new position in shares of Global Medical REIT in the 2nd quarter worth $43,000. Tower Research Capital LLC TRC raised its position in shares of Global Medical REIT by 227.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 5,646 shares of the company’s stock worth $48,000 after buying an additional 3,920 shares during the period. Finally, SeaCrest Wealth Management LLC purchased a new position in shares of Global Medical REIT in the 2nd quarter worth $52,000. Hedge funds and other institutional investors own 65.08% of the company’s stock.

Global Medical REIT Stock Down 3.9 %

NYSE:GMRE traded down $0.36 during mid-day trading on Friday, hitting $8.83. The company had a trading volume of 731,272 shares, compared to its average volume of 459,871. The business has a fifty day simple moving average of $10.39 and a 200-day simple moving average of $9.71. The company has a current ratio of 0.20, a quick ratio of 0.20 and a debt-to-equity ratio of 1.12. Global Medical REIT Inc. has a 1 year low of $7.01 and a 1 year high of $16.47. The firm has a market capitalization of $578.59 million, a price-to-earnings ratio of 44.15, a PEG ratio of 1.29 and a beta of 1.05.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 11th. Stockholders of record on Friday, March 24th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, March 23rd. This represents a $0.84 annualized dividend and a dividend yield of 9.51%. Global Medical REIT’s dividend payout ratio is presently 420.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GMRE. B. Riley cut their target price on Global Medical REIT from $14.00 to $12.00 and set a “buy” rating on the stock in a research report on Monday, March 6th. StockNews.com started coverage on Global Medical REIT in a research report on Thursday. They issued a “hold” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.50.

Global Medical REIT Company Profile

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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.