Global Medical REIT Inc. (NYSE:GMRE) Short Interest Up 8.1% in September

Global Medical REIT Inc. (NYSE:GMRE) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,200,000 shares, a growth of 8.1% from the September 15th total of 1,110,000 shares. Based on an average daily trading volume, of 389,400 shares, the days-to-cover ratio is presently 3.1 days.

Analysts Set New Price Targets

Separately, Alliance Global Partners began coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price objective for the company.

Global Medical REIT Stock Performance

NYSE GMRE opened at $9.48 on Friday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $621.77 million, a P/E ratio of 41.22, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The stock’s fifty day moving average is $9.46 and its two-hundred day moving average is $9.10. Global Medical REIT has a fifty-two week low of $7.98 and a fifty-two week high of $11.59.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.25). The company had revenue of $34.24 million during the quarter, compared to analysts’ expectations of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same quarter last year, the firm posted $0.23 earnings per share. On average, research analysts anticipate that Global Medical REIT will post 0.85 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.86%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s dividend payout ratio is currently 365.22%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GMRE. LSV Asset Management grew its stake 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 worth $9,088,000 after purchasing an additional 553,408 shares in the last quarter. Bank of New York Mellon Corp grew 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 buying an additional 520,583 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Global Medical REIT during the fourth quarter worth about $3,475,000. Price T Rowe Associates Inc. MD increased its stake in shares of Global Medical REIT by 788.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock worth $1,143,000 after buying an additional 115,866 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in 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 acquiring an additional 97,630 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

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.