Renaissance Technologies LLC Sells 29,000 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Renaissance Technologies LLC lessened its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 9.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 269,100 shares of the company’s stock after selling 29,000 shares during the quarter. Renaissance Technologies LLC’s holdings in Global Medical REIT were worth $2,443,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. LSV Asset Management boosted its position in shares of Global Medical REIT by 114.0% in the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after purchasing an additional 553,408 shares in the last quarter. Wellington Management Group LLP bought a new stake in Global Medical REIT in the fourth quarter worth $3,475,000. Price T Rowe Associates Inc. MD boosted its holdings in Global Medical REIT by 788.5% in the first 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Global Medical REIT by 1.2% in the first 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. Finally, Sound Income Strategies LLC increased its holdings in shares of Global Medical REIT by 10.0% during the first quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after acquiring an additional 97,630 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Price Performance

Shares of GMRE opened at $9.83 on Wednesday. Global Medical REIT Inc. has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a market capitalization of $644.73 million, a P/E ratio of 42.74, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The firm has a 50 day moving average of $9.46 and a 200 day moving average of $9.03. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. During the same period in the previous year, the business posted $0.23 EPS. As a group, equities research analysts anticipate that Global Medical REIT Inc. will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 8.55%. The ex-dividend date of this dividend is Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is 365.22%.

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.