State Street Corp Increases Holdings in Global Medical REIT Inc. (NYSE:GMRE)

State Street Corp increased its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 1.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,924,433 shares of the company’s stock after purchasing an additional 28,444 shares during the quarter. State Street Corp owned approximately 2.88% of Global Medical REIT worth $19,468,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GMRE. Gordian Capital Singapore Pte Ltd bought a new position in Global Medical REIT in the 2nd quarter worth approximately $100,000. Quantinno Capital Management LP bought a new position in shares of Global Medical REIT during the third quarter worth $138,000. Intech Investment Management LLC purchased a new position in Global Medical REIT during the third quarter valued at $150,000. Versor Investments LP bought a new stake in Global Medical REIT in the 3rd quarter valued at $189,000. Finally, M&G PLC purchased a new stake in Global Medical REIT in the 3rd quarter worth $193,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $7.80 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT Inc. has a twelve month low of $7.68 and a twelve month high of $11.46. The company’s 50-day moving average price is $8.85 and its 200-day moving average price is $9.17. The company has a market cap of $521.06 million, a PE ratio of -389.81, a price-to-earnings-growth ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The company 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 last year, the company earned $0.23 earnings per share. On average, equities research analysts forecast that Global Medical REIT Inc. will post 0.83 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a yield of 10.77%. Global Medical REIT’s dividend payout ratio is presently -4,200.00%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GMRE. Alliance Global Partners began coverage on Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price on the stock. Berenberg Bank began coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective on the stock.

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.