Global Medical REIT Inc. (NYSE:GMRE) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its stake in Global Medical REIT Inc. (NYSE:GMRE) by 228.9% during the third quarter, HoldingsChannel reports. The fund owned 114,988 shares of the company’s stock after purchasing an additional 80,030 shares during the quarter. Franklin Resources Inc.’s holdings in Global Medical REIT were worth $1,073,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GMRE. Gordian Capital Singapore Pte Ltd acquired a new position in Global Medical REIT in the 2nd quarter worth about $100,000. Quantinno Capital Management LP acquired a new position in Global Medical REIT in the third quarter worth approximately $138,000. Zacks Investment Management increased its holdings in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after buying an additional 1,696 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Global Medical REIT in the third quarter valued at approximately $150,000. Finally, Versor Investments LP bought a new stake in Global Medical REIT in the third quarter worth approximately $189,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target on the stock. Berenberg Bank began coverage on Global Medical REIT in a research report on Friday, October 18th. They issued a “buy” rating and a $11.75 price target for the company.

Global Medical REIT Trading Down 2.7 %

NYSE:GMRE opened at $7.61 on Friday. The company’s 50 day moving average is $8.71 and its 200-day moving average is $9.14. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT Inc. has a 12 month low of $7.53 and a 12 month high of $11.40. The firm has a market cap of $508.37 million, a price-to-earnings ratio of -380.31, a P/E/G ratio of 1.47 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. During the same quarter last year, the business earned $0.23 EPS. Equities analysts anticipate that Global Medical REIT Inc. will post 0.83 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 annualized dividend and a dividend yield of 11.04%. Global Medical REIT’s dividend payout ratio is presently -4,200.00%.

Global Medical REIT 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.