Gordian Capital Singapore Pte Ltd Purchases Shares of 11,000 Global Medical REIT Inc. (NYSE:GMRE)

Gordian Capital Singapore Pte Ltd purchased a new stake in Global Medical REIT Inc. (NYSE:GMRE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 11,000 shares of the company’s stock, valued at approximately $100,000.

Other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management raised its position in shares of Global Medical REIT by 114.0% during the first 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 during the period. Bank of New York Mellon Corp raised 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 period. Wellington Management Group LLP acquired a new position in shares of Global Medical REIT during the fourth quarter worth approximately $3,475,000. Price T Rowe Associates Inc. MD raised its position 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 purchasing an additional 115,866 shares during the period. Finally, Sound Income Strategies LLC raised its position 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 worth $9,407,000 after purchasing an additional 97,630 shares during the period. 57.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price on the stock.

Global Medical REIT Stock Down 0.8 %

GMRE stock opened at $9.83 on Wednesday. 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 company has a market capitalization of $644.73 million, a price-to-earnings ratio of 42.74, a PEG ratio of 1.45 and a beta of 1.24. Global Medical REIT Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $11.59. The stock has a fifty day moving average of $9.46 and a 200-day moving average of $9.04.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). The business 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 period in the previous year, the business earned $0.23 EPS. As a group, equities research analysts predict that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Friday, September 20th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.55%. Global Medical REIT’s dividend payout ratio 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.