Global Medical REIT (NYSE:GMRE) Shares Up 4.8% Following Earnings Beat

Global Medical REIT Inc. (NYSE:GMRE) shot up 4.8% on Friday following a better than expected earnings announcement. The stock traded as high as $8.98 and last traded at $8.89. 94,864 shares traded hands during trading, a decline of 80% from the average session volume of 465,031 shares. The stock had previously closed at $8.48.

The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date is Friday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,200.00%.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP grew its stake in Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after buying an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. grew its position in Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after acquiring an additional 2,301 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Global Medical REIT in the fourth quarter worth $82,000. Corton Capital Inc. bought a new position in Global Medical REIT in the fourth quarter valued at $85,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Global Medical REIT in the fourth quarter worth approximately $91,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Stock Performance

The company’s fifty day moving average is $7.97 and its 200 day moving average is $8.74. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The company has a market cap of $589.67 million, a P/E ratio of -441.13, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

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.