DAVENPORT & Co LLC Sells 1,500 Shares of Global Medical REIT Inc. (NYSE:GMRE)

DAVENPORT & Co LLC lessened its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 11.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,500 shares of the company’s stock after selling 1,500 shares during the quarter. DAVENPORT & Co LLC’s holdings in Global Medical REIT were worth $89,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of GMRE. Quantinno Capital Management LP bought a new stake in Global Medical REIT during the third quarter valued at about $138,000. Zacks Investment Management boosted its position in Global Medical REIT by 12.9% during the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after purchasing an additional 1,696 shares in the last quarter. Intech Investment Management LLC bought a new stake in Global Medical REIT during the third quarter valued at about $150,000. Versor Investments LP bought a new stake in Global Medical REIT during the third quarter valued at about $189,000. Finally, M&G PLC bought a new stake in Global Medical REIT during the third quarter valued at about $193,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Trading Down 0.3 %

Global Medical REIT stock opened at $7.91 on Monday. The stock has a 50-day moving average of $8.01 and a two-hundred day moving average of $8.85. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a one year low of $7.33 and a one year high of $10.46. The stock has a market cap of $528.05 million, a PE ratio of -395.05, a price-to-earnings-growth ratio of 1.35 and a beta of 1.24.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 10.63%. The ex-dividend date of this dividend was Friday, December 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,197.90%.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank initiated coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective on the stock.

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.