Beck Capital Management LLC Reduces Position in Global Medical REIT Inc. (NYSE:GMRE)

Beck Capital Management LLC trimmed its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 36.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 158,042 shares of the company’s stock after selling 90,380 shares during the quarter. Beck Capital Management LLC owned approximately 0.24% of Global Medical REIT worth $1,566,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMRE. Gordian Capital Singapore Pte Ltd bought a new position in Global Medical REIT in the 2nd quarter valued at $100,000. Intech Investment Management LLC purchased a new stake in shares of Global Medical REIT during the third quarter valued at $150,000. Versor Investments LP bought a new position in shares of Global Medical REIT in the third quarter worth about $189,000. M&G PLC purchased a new position in Global Medical REIT in the 3rd quarter worth about $193,000. Finally, First Trust Direct Indexing L.P. lifted its holdings in Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock valued at $202,000 after buying an additional 4,164 shares in the last quarter. 57.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

GMRE has been the topic of a number of research analyst reports. Alliance Global Partners started coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price on the stock. Berenberg Bank initiated coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective on the stock.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $8.89 on Monday. The firm has a market cap of $593.85 million, a price-to-earnings ratio of -444.28, a PEG ratio of 1.53 and a beta of 1.25. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $9.22 and its 200 day moving average is $9.24.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The company 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 0.86%. During the same quarter in the prior year, the business posted $0.23 earnings per share. On average, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.83 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

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

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.