BlackRock Inc. grew its position in Global Medical REIT Inc (NYSE:GMRE) by 16.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,010,733 shares of the company’s stock after purchasing an additional 143,401 shares during the period. BlackRock Inc.’s holdings in Global Medical REIT were worth $8,955,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of GMRE. Dimensional Fund Advisors LP boosted its holdings in Global Medical REIT by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 57,936 shares of the company’s stock worth $403,000 after acquiring an additional 25,321 shares in the last quarter. A.R.T. Advisors LLC boosted its holdings in Global Medical REIT by 126.4% in the first quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock worth $195,000 after acquiring an additional 15,703 shares in the last quarter. Millennium Management LLC boosted its holdings in Global Medical REIT by 370.7% in the first quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock worth $1,593,000 after acquiring an additional 180,465 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Global Medical REIT in the first quarter worth approximately $224,000. Finally, RMR Advisors LLC boosted its holdings in Global Medical REIT by 8.7% in the second quarter. RMR Advisors LLC now owns 437,967 shares of the company’s stock worth $3,880,000 after acquiring an additional 35,126 shares in the last quarter. 42.06% of the stock is owned by institutional investors and hedge funds.
GMRE stock opened at $9.10 on Monday. Global Medical REIT Inc has a twelve month low of $6.34 and a twelve month high of $10.05. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.14 and a current ratio of 0.14. The company has a market capitalization of $196.84 million, a PE ratio of 16.85, a P/E/G ratio of 1.23 and a beta of 0.51.
Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%. The company had revenue of $13.25 million during the quarter, compared to the consensus estimate of $12.86 million. Equities research analysts anticipate that Global Medical REIT Inc will post 0.82 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Thursday, September 20th were issued a $0.20 dividend. The ex-dividend date was Wednesday, September 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.79%. Global Medical REIT’s dividend payout ratio is presently 148.15%.
GMRE has been the topic of a number of recent research reports. Robert W. Baird initiated coverage on Global Medical REIT in a report on Thursday, October 11th. They issued an “outperform” rating and a $11.00 target price on the stock. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. B. Riley set a $11.00 target price on Global Medical REIT and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Boenning Scattergood restated a “hold” rating on shares of Global Medical REIT in a report on Thursday, August 9th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $10.40.
Global Medical REIT Company Profile
Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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