State of New Jersey Common Pension Fund D Grows Position in Global Medical REIT Inc. (NYSE:GMRE)

State of New Jersey Common Pension Fund D raised its stake in Global Medical REIT Inc. (NYSE:GMRE) by 8.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 637,751 shares of the company’s stock after buying an additional 47,500 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Global Medical REIT were worth $6,320,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Global Medical REIT by 1.2% during the first 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in Global Medical REIT by 78.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock worth $10,746,000 after buying an additional 520,583 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Global Medical REIT by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after buying an additional 6,676 shares during the period. D.A. Davidson & CO. grew its stake in shares of Global Medical REIT by 8.6% in the second quarter. D.A. Davidson & CO. now owns 437,470 shares of the company’s stock worth $3,972,000 after acquiring an additional 34,582 shares in the last quarter. Finally, Beck Capital Management LLC increased its position in shares of Global Medical REIT by 10.0% during the second quarter. Beck Capital Management LLC now owns 248,422 shares of the company’s stock worth $2,256,000 after acquiring an additional 22,501 shares during the period. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Down 0.8 %

GMRE stock opened at $8.89 on Tuesday. The company’s 50 day moving average is $9.47 and its two-hundred day moving average is $9.21. Global Medical REIT Inc. has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. The stock has a market cap of $583.10 million, a P/E ratio of -447.78, a PEG ratio of 1.33 and a beta of 1.25.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.85%. During the same period in the previous year, the firm posted $0.23 earnings per share. Research analysts expect that Global Medical REIT Inc. will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were issued a $0.21 dividend. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.45%. Global Medical REIT’s payout ratio is -4,197.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Alliance Global Partners assumed coverage on Global Medical REIT in a research report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock. Berenberg Bank assumed coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective on the stock.

About Global Medical REIT

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.