The Manufacturers Life Insurance Company Boosts Holdings in Global Medical REIT Inc. (NYSE:GMRE)

The Manufacturers Life Insurance Company grew its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 7.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,186 shares of the company’s stock after acquiring an additional 3,471 shares during the quarter. The Manufacturers Life Insurance Company owned 0.07% of Global Medical REIT worth $438,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in GMRE. Wellington Management Group LLP purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $3,475,000. BTC Capital Management Inc. purchased a new position in shares of Global Medical REIT during the first quarter worth approximately $143,000. Royal Fund Management LLC raised its stake in shares of Global Medical REIT by 6.8% during the first quarter. Royal Fund Management LLC now owns 82,264 shares of the company’s stock worth $720,000 after acquiring an additional 5,247 shares in the last quarter. Sound Income Strategies LLC raised its stake in shares of 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 in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Global Medical REIT during the first quarter worth approximately $246,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners assumed coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price on the stock.

Global Medical REIT Stock Up 1.4 %

Shares of Global Medical REIT stock opened at $9.59 on Thursday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59. The stock has a market capitalization of $628.99 million, a price-to-earnings ratio of 41.70, a P/E/G ratio of 1.37 and a beta of 1.25. The company’s 50 day moving average price is $9.45 and its 200-day moving average price is $9.10.

Global Medical REIT (NYSE:GMRE) last issued 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). Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. The firm had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. During the same quarter in the prior year, the business posted $0.23 EPS. Equities research analysts forecast that Global Medical REIT Inc. will post 0.85 EPS for the current year.

Global Medical REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.76%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is currently 365.22%.

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.