Royal Fund Management LLC Increases Stake in Global Medical REIT Inc. (NYSE:GMRE)

Royal Fund Management LLC grew its stake in Global Medical REIT Inc. (NYSE:GMRE) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,264 shares of the company’s stock after purchasing an additional 5,247 shares during the period. Royal Fund Management LLC’s holdings in Global Medical REIT were worth $720,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in GMRE. D.A. Davidson & CO. raised its position in Global Medical REIT by 7.0% during the fourth quarter. D.A. Davidson & CO. now owns 346,584 shares of the company’s stock worth $3,847,000 after acquiring an additional 22,719 shares during the period. Penserra Capital Management LLC lifted its position in shares of Global Medical REIT by 14.4% in the third quarter. Penserra Capital Management LLC now owns 55,589 shares of the company’s stock valued at $498,000 after acquiring an additional 6,996 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Global Medical REIT by 41.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after purchasing an additional 1,666 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Global Medical REIT by 18.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 74,445 shares of the company’s stock valued at $826,000 after purchasing an additional 11,360 shares in the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Global Medical REIT during the fourth quarter worth $258,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Trading Up 0.5 %

Shares of NYSE:GMRE traded up $0.04 during midday trading on Monday, reaching $8.85. 17,507 shares of the company’s stock were exchanged, compared to its average volume of 389,348. The stock has a market cap of $580.47 million, a price-to-earnings ratio of 38.30, a P/E/G ratio of 1.28 and a beta of 1.21. Global Medical REIT Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $11.59. The firm’s 50 day simple moving average is $8.73 and its two-hundred day simple moving average is $9.40. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.22 and a quick ratio of 0.22.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Friday, June 21st will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date is Friday, June 21st. Global Medical REIT’s dividend payout ratio (DPR) is 365.22%.

Analysts Set New Price Targets

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

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.