Janney Montgomery Scott LLC Purchases 14,532 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Janney Montgomery Scott LLC raised its position in Global Medical REIT Inc. (NYSE:GMRE) by 11.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 143,447 shares of the company’s stock after purchasing an additional 14,532 shares during the period. Janney Montgomery Scott LLC owned 0.21% of Global Medical REIT worth $1,107,000 at the end of the most recent reporting period.

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

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $7.93 on Thursday. The business’s 50-day moving average price is $8.07 and its 200-day moving average price is $8.88. The firm has a market capitalization of $529.99 million, a PE ratio of -396.50, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. Global Medical REIT Inc. has a 12 month low of $7.33 and a 12 month high of $10.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The business had revenue of $34.26 million for the quarter, compared to analysts’ expectations of $34.88 million. During the same period last year, the business posted $0.23 earnings per share. Sell-side analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.59%. Global Medical REIT’s dividend payout ratio (DPR) is currently -4,197.90%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank initiated coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price target for the company.

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.