Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 43.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 110,858 shares of the company’s stock after selling 84,033 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.17% of Global Medical REIT worth $1,099,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in GMRE. Gordian Capital Singapore Pte Ltd purchased a new position in Global Medical REIT in the second quarter valued at approximately $100,000. Versor Investments LP purchased a new stake in Global Medical REIT in the third quarter valued at $189,000. M&G PLC acquired a new position in Global Medical REIT in the third quarter valued at $193,000. First Trust Direct Indexing L.P. grew its holdings in shares of Global Medical REIT by 25.6% during the third quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock worth $202,000 after purchasing an additional 4,164 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Global Medical REIT by 90.1% during the third quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock worth $225,000 after purchasing an additional 10,759 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on GMRE. Berenberg Bank assumed coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 price target on the stock. Alliance Global Partners began coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

Global Medical REIT Stock Up 0.3 %

Global Medical REIT stock opened at $8.89 on Monday. The stock has a 50 day moving average of $9.22 and a two-hundred day moving average of $9.24. Global Medical REIT Inc. has a twelve month low of $7.98 and a twelve month high of $11.59. The stock has a market capitalization of $593.85 million, a price-to-earnings ratio of -444.28, a PEG ratio of 1.53 and a beta of 1.25. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million for the quarter, compared to analyst estimates of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same period in the prior year, the business earned $0.23 earnings per share. As a group, research analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were issued a dividend of $0.21 per share. 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 is currently -4,197.90%.

Global Medical REIT 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.