JPMorgan Chase & Co. Raises Stake in Global Medical REIT Inc. (NYSE:GMRE)

JPMorgan Chase & Co. boosted its position in Global Medical REIT Inc. (NYSE:GMRE) by 54.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,927 shares of the company’s stock after buying an additional 81,596 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.35% of Global Medical REIT worth $2,298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. lifted its position in Global Medical REIT by 228.9% in the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after purchasing an additional 80,030 shares during the last quarter. Barclays PLC lifted its position in Global Medical REIT by 87.1% in the third quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after purchasing an additional 71,704 shares during the last quarter. First Dallas Securities Inc. lifted its position in Global Medical REIT by 28.0% in the third quarter. First Dallas Securities Inc. now owns 45,750 shares of the company’s stock valued at $453,000 after purchasing an additional 10,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Global Medical REIT by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock valued at $16,078,000 after purchasing an additional 18,209 shares during the last quarter. Finally, Zacks Investment Management lifted its position in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after purchasing an additional 1,696 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Analyst Ratings Changes

Separately, Berenberg Bank began coverage on Global Medical REIT in a research report on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $8.05 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The company has a market cap of $537.41 million, a PE ratio of -402.05, a P/E/G ratio of 1.36 and a beta of 1.23. The business has a 50 day moving average of $8.25 and a 200 day moving average of $8.99. Global Medical REIT Inc. has a 52 week low of $7.33 and a 52 week high of $10.58.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 EPS 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 the consensus estimate 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 company earned $0.23 EPS. As a group, equities research analysts forecast that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

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 paid a $0.21 dividend. The ex-dividend date was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.44%. Global Medical REIT’s payout ratio is -4,197.90%.

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.