Beck Capital Management LLC Boosts Stake in Global Medical REIT Inc. (NYSE:GMRE)

Beck Capital Management LLC lifted its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 248,422 shares of the company’s stock after purchasing an additional 22,501 shares during the period. Beck Capital Management LLC owned about 0.38% of Global Medical REIT worth $2,256,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Global Medical REIT by 1.2% in the first quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock valued at $54,367,000 after purchasing an additional 76,267 shares during the period. Bank of New York Mellon Corp increased its holdings in Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock worth $10,746,000 after acquiring an additional 520,583 shares in the last quarter. Sound Income Strategies LLC raised its position in Global Medical REIT by 10.0% during the first quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock worth $9,407,000 after acquiring an additional 97,630 shares during the period. LSV Asset Management raised its position in Global Medical REIT by 114.0% during the first quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after acquiring an additional 553,408 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Global Medical REIT by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after purchasing an additional 6,676 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

NYSE GMRE opened at $9.72 on Monday. 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 Inc. has a 1-year low of $7.98 and a 1-year high of $11.59. The company has a market cap of $637.52 million, a PE ratio of 42.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24. The stock’s 50 day simple moving average is $9.43 and its 200-day simple moving average is $8.99.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.25). The business had revenue of $34.24 million for the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same period last year, the firm earned $0.23 EPS. As a group, equities research analysts anticipate that Global Medical REIT Inc. will post 0.85 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.84 annualized dividend and a yield of 8.64%. Global Medical REIT’s dividend payout ratio is presently 365.22%.

Analysts Set New Price Targets

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

Global Medical REIT Company Profile

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.