Victory Capital Management Inc. Grows Position in Global Medical REIT Inc. (NYSE:GMRE)

Victory Capital Management Inc. increased its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 131,533 shares of the company’s stock after purchasing an additional 6,497 shares during the period. Victory Capital Management Inc. owned approximately 0.20% of Global Medical REIT worth $1,194,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in shares of Global Medical REIT by 5.4% during the 2nd quarter. Rhumbline Advisers now owns 110,342 shares of the company’s stock worth $1,002,000 after purchasing an additional 5,696 shares during the period. D.A. Davidson & CO. lifted its holdings in Global Medical REIT by 8.6% during the 2nd quarter. D.A. Davidson & CO. now owns 437,470 shares of the company’s stock valued at $3,972,000 after buying an additional 34,582 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Global Medical REIT by 7.2% during the 2nd quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after buying an additional 2,033 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Global Medical REIT by 78.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after buying an additional 520,583 shares in the last quarter. Finally, Tidal Investments LLC lifted its holdings in Global Medical REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock valued at $241,000 after buying an additional 1,504 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Trading Up 0.3 %

Shares of GMRE opened at $10.17 on Friday. Global Medical REIT Inc. has a 1-year low of $7.98 and a 1-year high of $11.59. The company has a 50-day moving average of $9.43 and a 200 day moving average of $8.98. The firm has a market capitalization of $667.03 million, a price-to-earnings ratio of 44.22, a PEG ratio of 1.39 and a beta of 1.24. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The business had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, research analysts expect that Global Medical REIT Inc. will post 0.85 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 8.26%. Global Medical REIT’s dividend payout ratio is currently 365.22%.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners assumed coverage on shares of Global Medical REIT in a report on Thursday. They set a “buy” rating and a $12.00 price objective for the company.

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.