Stifel Financial Corp raised its position in shares of Global Medical REIT (NYSE:GMRE) by 29.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,956 shares of the company’s stock after purchasing an additional 42,958 shares during the period. Stifel Financial Corp owned approximately 0.88% of Global Medical REIT worth $1,319,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. raised its position in Global Medical REIT by 4.3% during the first quarter. BlackRock Inc. now owns 867,332 shares of the company’s stock valued at $6,027,000 after purchasing an additional 35,430 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Global Medical REIT by 378.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock valued at $3,154,000 after purchasing an additional 304,286 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Global Medical REIT during the fourth quarter valued at approximately $1,755,000. ICM Asset Management Inc. WA raised its position in Global Medical REIT by 33.5% during the fourth quarter. ICM Asset Management Inc. WA now owns 203,190 shares of the company’s stock valued at $1,666,000 after purchasing an additional 50,940 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Global Medical REIT by 20.1% during the fourth quarter. Bank of New York Mellon Corp now owns 175,081 shares of the company’s stock valued at $1,436,000 after purchasing an additional 29,326 shares in the last quarter. Institutional investors and hedge funds own 38.80% of the company’s stock.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating and set a $9.75 price objective for the company in a research report on Wednesday, May 9th. B. Riley decreased their target price on shares of Global Medical REIT from $10.50 to $10.00 and set a “buy” rating on the stock in a research note on Thursday, May 10th. DA Davidson raised shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a research note on Wednesday, March 28th. Finally, Cantor Fitzgerald initiated coverage on shares of Global Medical REIT in a research note on Wednesday, March 7th. They set a “buy” rating and a $12.00 target price on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $10.05.
Global Medical REIT opened at $9.28 on Wednesday, according to MarketBeat Ratings. The firm has a market cap of $199.87 million, a price-to-earnings ratio of 17.19, a P/E/G ratio of 1.24 and a beta of 0.50. Global Medical REIT has a fifty-two week low of $6.34 and a fifty-two week high of $10.15. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.31.
Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). The company had revenue of $11.56 million for the quarter, compared to the consensus estimate of $11.50 million. Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%. sell-side analysts predict that Global Medical REIT will post 0.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 11th. Shareholders of record on Tuesday, June 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Monday, June 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.62%. Global Medical REIT’s payout ratio is presently 148.15%.
Global Medical REIT Profile
Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.
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