RMR Advisors LLC Grows Stake in Global Medical REIT Inc (GMRE)

RMR Advisors LLC lifted its holdings in Global Medical REIT Inc (NYSE:GMRE) by 13.1% during the first quarter, HoldingsChannel.com reports. The fund owned 495,467 shares of the company’s stock after buying an additional 57,500 shares during the quarter. Global Medical REIT makes up 1.8% of RMR Advisors LLC’s holdings, making the stock its 14th largest holding. RMR Advisors LLC’s holdings in Global Medical REIT were worth $4,865,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in GMRE. State of Alaska Department of Revenue increased its stake in shares of Global Medical REIT by 19.9% in the first quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock worth $72,000 after acquiring an additional 1,229 shares during the period. D. E. Shaw & Co. Inc. purchased a new stake in Global Medical REIT during the fourth quarter worth $89,000. Bank of America Corp DE boosted its holdings in Global Medical REIT by 113.3% during the fourth quarter. Bank of America Corp DE now owns 10,296 shares of the company’s stock worth $92,000 after buying an additional 5,470 shares in the last quarter. Schnieders Capital Management LLC purchased a new stake in Global Medical REIT during the fourth quarter worth $116,000. Finally, Squarepoint Ops LLC purchased a new stake in Global Medical REIT during the fourth quarter worth $118,000. Hedge funds and other institutional investors own 41.76% of the company’s stock.

NYSE GMRE traded down $0.15 during mid-day trading on Wednesday, reaching $9.80. 2,902 shares of the stock were exchanged, compared to its average volume of 412,105. Global Medical REIT Inc has a 1 year low of $7.48 and a 1 year high of $11.02. The company has a market capitalization of $261.88 million, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.32 and a beta of 0.61. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.11 and a current ratio of 0.11.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. The firm had revenue of $14.38 million for the quarter, compared to the consensus estimate of $14.46 million. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%. On average, equities analysts expect that Global Medical REIT Inc will post 0.83 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 26th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.16%. The ex-dividend date was Monday, March 25th. Global Medical REIT’s payout ratio is 102.56%.

A number of analysts recently issued reports on GMRE shares. Zacks Investment Research raised shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, January 8th. Stifel Nicolaus started coverage on shares of Global Medical REIT in a report on Monday. They set a “buy” rating and a $11.00 price target on the stock. Janney Montgomery Scott downgraded shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 price target on the stock. in a report on Wednesday, December 19th. Boenning Scattergood reissued a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Finally, B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the stock a “buy” rating in a report on Friday, March 8th. Two research analysts have rated the stock with a hold rating and four have assigned 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.

In other Global Medical REIT news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.75, for a total transaction of $57,963.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 13.00% of the company’s stock.

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About Global Medical REIT

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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