Global Medical REIT (NYSE:GMRE) Sees Large Volume Increase

Global Medical REIT Inc. (NYSE:GMRE) saw an uptick in trading volume on Tuesday . 761,089 shares were traded during trading, an increase of 101% from the previous session’s volume of 379,585 shares.The stock last traded at $10.21 and had previously closed at $10.07.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners began coverage on shares of Global Medical REIT in a research note on Thursday. They set a “buy” rating and a $12.00 price objective on the stock.

Global Medical REIT Stock Up 0.3 %

The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20. The firm’s 50 day moving average is $9.43 and its 200-day moving average is $8.98. The firm has a market cap of $667.03 million, a PE ratio of 44.22, a P/E/G ratio of 1.39 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. The company had revenue of $34.24 million for the quarter, compared to analyst estimates of $35.24 million. During the same period last year, the company posted $0.23 EPS. As a group, equities research analysts expect that Global Medical REIT Inc. will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 8.26%. The ex-dividend date of this dividend is Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is 365.22%.

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Global Medical REIT by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock valued at $54,367,000 after buying an additional 76,267 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Global Medical REIT by 78.5% during the second quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock worth $10,746,000 after purchasing an additional 520,583 shares in the last quarter. Sound Income Strategies LLC boosted its stake in shares of Global Medical REIT by 10.0% in the first quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after purchasing an additional 97,630 shares during the period. LSV Asset Management grew its holdings in Global Medical REIT by 114.0% during the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock valued at $9,088,000 after purchasing an additional 553,408 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Global Medical REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after purchasing an additional 6,676 shares in the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.