ICM Asset Management Inc. WA increased its holdings in shares of Global Medical REIT (NYSE:GMRE) by 33.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,190 shares of the company’s stock after buying an additional 50,940 shares during the period. Global Medical REIT comprises approximately 1.8% of ICM Asset Management Inc. WA’s investment portfolio, making the stock its 18th largest holding. ICM Asset Management Inc. WA owned approximately 0.94% of Global Medical REIT worth $1,666,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Teachers Advisors LLC raised its stake in Global Medical REIT by 5.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock valued at $235,000 after purchasing an additional 1,243 shares during the last quarter. Northern Trust Corp raised its stake in Global Medical REIT by 2.0% in the 2nd quarter. Northern Trust Corp now owns 147,978 shares of the company’s stock valued at $1,323,000 after purchasing an additional 2,873 shares during the last quarter. Vanguard Group Inc. raised its stake in Global Medical REIT by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock valued at $4,667,000 after purchasing an additional 4,044 shares during the last quarter. Wells Fargo & Company MN raised its stake in Global Medical REIT by 20.6% in the 2nd quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock valued at $239,000 after purchasing an additional 4,589 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in Global Medical REIT by 18.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,546 shares of the company’s stock valued at $282,000 after purchasing an additional 5,017 shares during the last quarter. 44.53% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Jeffrey Busch bought 6,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was acquired at an average cost of $7.13 per share, with a total value of $42,780.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 16.51% of the stock is owned by company insiders.
GMRE has been the subject of several recent research reports. B. Riley reissued a “buy” rating on shares of Global Medical REIT in a research note on Thursday, March 8th. Zacks Investment Research downgraded Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Cantor Fitzgerald initiated coverage on Global Medical REIT in a research note on Wednesday, March 7th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, TheStreet downgraded Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $10.10.
Global Medical REIT (NYSE GMRE) opened at $7.06 on Tuesday. Global Medical REIT has a 52 week low of $6.45 and a 52 week high of $10.25. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $158.34, a price-to-earnings ratio of 15.25, a P/E/G ratio of 1.07 and a beta of 1.04.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Shareholders of record on Thursday, March 22nd will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.33%. The ex-dividend date of this dividend is Wednesday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is presently -470.56%.
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About Global Medical REIT
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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