First Trust Direct Indexing L.P. Increases Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

First Trust Direct Indexing L.P. lifted its position in Global Medical REIT Inc. (NYSE:GMRE) by 25.6% in the third quarter, HoldingsChannel reports. The firm owned 20,432 shares of the company’s stock after buying an additional 4,164 shares during the period. First Trust Direct Indexing L.P.’s holdings in Global Medical REIT were worth $202,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Tidal Investments LLC grew its holdings in shares of Global Medical REIT by 5.8% in the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock valued at $241,000 after purchasing an additional 1,504 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Global Medical REIT by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock valued at $652,000 after purchasing an additional 1,592 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Global Medical REIT by 7.2% in the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after purchasing an additional 2,033 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Global Medical REIT by 8.6% in the first quarter. Oppenheimer & Co. Inc. now owns 26,988 shares of the company’s stock valued at $236,000 after purchasing an additional 2,146 shares during the period. Finally, Creative Planning grew its holdings in shares of Global Medical REIT by 13.3% in the third quarter. Creative Planning now owns 22,980 shares of the company’s stock valued at $228,000 after purchasing an additional 2,702 shares during the period. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

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

Global Medical REIT Trading Up 1.3 %

NYSE GMRE opened at $9.22 on Wednesday. The firm’s 50-day moving average is $9.48 and its two-hundred day moving average is $9.19. Global Medical REIT Inc. has a 12 month low of $7.98 and a 12 month high of $11.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $604.72 million, a P/E ratio of 153.67, a PEG ratio of 1.33 and a beta of 1.25.

Global Medical REIT (NYSE:GMRE) last issued its quarterly 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). The business had revenue of $34.24 million for the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same period in the prior year, the company posted $0.23 EPS. On average, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

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

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.