Nisa Investment Advisors LLC Reduces Position in Global Medical REIT Inc. (NYSE:GMRE)

Nisa Investment Advisors LLC trimmed its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,392 shares of the company’s stock after selling 3,890 shares during the period. Nisa Investment Advisors LLC’s holdings in Global Medical REIT were worth $330,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of Global Medical REIT by 114.0% in the first quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after buying an additional 553,408 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 during the last quarter. Price T Rowe Associates Inc. MD boosted 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 valued at $1,143,000 after purchasing an additional 115,866 shares during the period. AQR Capital Management LLC boosted its stake in shares of Global Medical REIT by 71.1% during the second quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock valued at $1,715,000 after purchasing an additional 78,528 shares during the period. Finally, Vanguard Group Inc. grew its holdings 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 purchasing an additional 76,267 shares during the last quarter. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Up 1.3 %

Shares of NYSE GMRE opened at $9.22 on Wednesday. The stock has a market capitalization of $604.72 million, a PE ratio of 153.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. Global Medical REIT Inc. has a 12-month low of $7.98 and a 12-month high of $11.59. The stock’s fifty day simple moving average is $9.48 and its two-hundred day simple moving average is $9.19.

Global Medical REIT (NYSE:GMRE) last posted its earnings results 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). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The company had revenue of $34.24 million during the quarter, compared to analysts’ expectations of $35.24 million. During the same quarter last year, the firm earned $0.23 EPS. As a group, analysts expect that Global Medical REIT Inc. will post 0.85 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 9.11%. Global Medical REIT’s payout ratio is 1,400.00%.

Wall Street Analysts Forecast Growth

GMRE has been the subject of several research reports. Berenberg Bank assumed coverage on shares of Global Medical REIT in a research report on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective for the company. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

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.