Global Medical REIT (NYSE:GMRE) Shares Gap Down to $9.25

Global Medical REIT Inc. (NYSE:GMRE) gapped down before the market opened on Friday . The stock had previously closed at $9.25, but opened at $9.03. Global Medical REIT shares last traded at $8.99, with a volume of 115,454 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on GMRE shares. B. Riley dropped their price target on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, May 13th. StockNews.com cut Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th.

Global Medical REIT Stock Performance

The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market capitalization of $577.85 million, a P/E ratio of 38.30, a price-to-earnings-growth ratio of 1.28 and a beta of 1.21. The business has a 50 day moving average of $8.73 and a 200-day moving average of $9.41.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Friday, June 21st will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, June 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.53%. Global Medical REIT’s payout ratio is 365.22%.

Institutional Trading of Global Medical REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in Global Medical REIT by 5.8% in the 1st quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after acquiring an additional 1,504 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in Global Medical REIT by 31.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 85,170 shares of the company’s stock worth $782,000 after acquiring an additional 20,153 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Global Medical REIT by 788.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock worth $1,143,000 after acquiring an additional 115,866 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Global Medical REIT by 2.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after acquiring an additional 1,592 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Global Medical REIT by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock worth $54,367,000 after acquiring an additional 76,267 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors.

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.