Global Medical REIT Inc. (NYSE:GMRE) Stake Lifted by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in Global Medical REIT Inc. (NYSE:GMRE) by 228.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,988 shares of the company’s stock after purchasing an additional 80,030 shares during the period. Franklin Resources Inc. owned approximately 0.17% of Global Medical REIT worth $1,073,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Global Medical REIT by 158.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock valued at $1,195,000 after buying an additional 73,965 shares in the last quarter. Duncan Williams Asset Management LLC bought a new position in shares of Global Medical REIT during the 3rd quarter valued at about $538,000. International Assets Investment Management LLC grew its stake in shares of Global Medical REIT by 900.1% in the 3rd quarter. International Assets Investment Management LLC now owns 21,313 shares of the company’s stock worth $2,151,000 after purchasing an additional 19,182 shares during the last quarter. Royal Fund Management LLC raised its holdings in shares of Global Medical REIT by 89.7% in the 3rd quarter. Royal Fund Management LLC now owns 148,164 shares of the company’s stock worth $1,469,000 after purchasing an additional 70,066 shares in the last quarter. Finally, State Street Corp lifted its stake in Global Medical REIT by 1.5% during the third quarter. State Street Corp now owns 1,924,433 shares of the company’s stock valued at $19,468,000 after purchasing an additional 28,444 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Global Medical REIT Trading Down 2.7 %

Global Medical REIT stock opened at $7.61 on Friday. The company has a 50 day moving average price of $8.71 and a 200 day moving average price of $9.14. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a 52 week low of $7.53 and a 52 week high of $11.40. The firm has a market capitalization of $508.37 million, a price-to-earnings ratio of -380.31, a P/E/G ratio of 1.47 and a beta of 1.21.

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 analysts’ consensus estimates of $0.21 by ($0.18). The business had revenue of $34.26 million for the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same quarter in the prior year, the firm posted $0.23 EPS. Research analysts forecast that Global Medical REIT Inc. will post 0.83 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 11.04%. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,200.00%.

Analyst Upgrades and Downgrades

GMRE has been the topic of several recent research reports. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock. Berenberg Bank initiated coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 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.