Sumitomo Mitsui Trust Group Inc. Sells 1,853 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,862 shares of the company’s stock after selling 1,853 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.10% of Global Medical REIT worth $532,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantinno Capital Management LP acquired a new stake in Global Medical REIT in the third quarter valued at approximately $138,000. Zacks Investment Management raised its holdings in shares of Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after buying an additional 1,696 shares during the last quarter. Intech Investment Management LLC purchased a new position in shares of Global Medical REIT in the third quarter worth $150,000. Versor Investments LP purchased a new position in shares of Global Medical REIT in the third quarter worth $189,000. Finally, M&G PLC purchased a new position in shares of Global Medical REIT in the third quarter worth $193,000. 57.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank assumed coverage on shares of 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 Stock Up 1.6 %

GMRE stock opened at $8.26 on Friday. The firm has a market cap of $551.66 million, a PE ratio of -412.69, a P/E/G ratio of 1.35 and a beta of 1.24. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm’s fifty day moving average is $7.95 and its 200 day moving average is $8.81. Global Medical REIT Inc. has a one year low of $7.33 and a one year high of $10.46.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.17%. Global Medical REIT’s dividend payout ratio is presently -4,200.00%.

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.