Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Cascade Investment Group Inc.

Cascade Investment Group Inc. lessened its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,885 shares of the company’s stock after selling 5,146 shares during the quarter. Cascade Investment Group Inc. owned 0.07% of Global Medical REIT worth $347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its holdings in Global Medical REIT by 54.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock worth $2,298,000 after acquiring an additional 81,596 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Global Medical REIT by 228.9% during the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after acquiring an additional 80,030 shares in the last quarter. AQR Capital Management LLC lifted its stake in Global Medical REIT by 71.1% during the second quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock worth $1,715,000 after purchasing an additional 78,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Global Medical REIT by 158.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock worth $1,195,000 after purchasing an additional 73,965 shares during the period. Finally, Barclays PLC lifted its position in shares of Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock worth $1,527,000 after buying an additional 71,704 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Ratings Changes

Separately, Berenberg Bank started coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 price objective on the stock.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $7.97 on Monday. Global Medical REIT Inc. has a 52 week low of $7.33 and a 52 week high of $10.58. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The stock has a market cap of $532.66 million, a PE ratio of -398.50, a price-to-earnings-growth ratio of 1.22 and a beta of 1.23. The company’s 50-day moving average price is $8.26 and its two-hundred day moving average price is $9.00.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The business had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 10.53%. The ex-dividend date of this dividend was Friday, December 20th. Global Medical REIT’s dividend payout ratio is presently -4,197.90%.

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.