Global Medical REIT Inc (NASDAQ:GMRE) Chairman Jeffrey Busch acquired 11,100 shares of Global Medical REIT stock in a transaction on Friday, June 30th. The shares were purchased at an average cost of $9.00 per share, for a total transaction of $99,900.00. Following the acquisition, the chairman now owns 20,110 shares in the company, valued at approximately $180,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Global Medical REIT Inc (NASDAQ:GMRE) traded up 0.54% during mid-day trading on Friday, hitting $9.29. 91,665 shares of the company’s stock traded hands. The firm has a 50-day moving average of $9.29 and a 200 day moving average of $9.04. Global Medical REIT Inc has a 52 week low of $6.73 and a 52 week high of $11.24.
Global Medical REIT (NASDAQ:GMRE) last issued its quarterly earnings results on Thursday, May 11th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.66 million for the quarter, compared to analyst estimates of $5.32 million. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. Analysts forecast that Global Medical REIT Inc will post ($0.07) earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 10th. Stockholders of record on Tuesday, June 27th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, June 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.61%.
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Several research analysts have issued reports on GMRE shares. Zacks Investment Research raised Global Medical REIT from a “sell” rating to a “hold” rating in a report on Monday, April 10th. TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a report on Monday, July 10th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Global Medical REIT in a report on Tuesday, July 11th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.67.
Several institutional investors have recently modified their holdings of the company. UBS Group AG raised its position in shares of Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock worth $108,000 after buying an additional 1,477 shares during the period. Wedbush Securities Inc. raised its position in shares of Global Medical REIT by 6.2% in the first quarter. Wedbush Securities Inc. now owns 14,500 shares of the company’s stock worth $132,000 after buying an additional 849 shares during the period. Spirit of America Management Corp NY raised its position in shares of Global Medical REIT by 50.0% in the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock worth $134,000 after buying an additional 5,000 shares during the period. Citadel Advisors LLC acquired a new position in shares of Global Medical REIT during the first quarter worth approximately $137,000. Finally, Menta Capital LLC acquired a new position in shares of Global Medical REIT during the first quarter worth approximately $164,000.
Global Medical REIT Company Profile
Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.
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