Quest Partners LLC Cuts Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Quest Partners LLC decreased its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 44.4% in the third quarter, HoldingsChannel reports. The firm owned 34,533 shares of the company’s stock after selling 27,625 shares during the quarter. Quest Partners LLC’s holdings in Global Medical REIT were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GMRE. Price T Rowe Associates Inc. MD grew its position in Global Medical REIT by 788.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock worth $1,143,000 after acquiring an additional 115,866 shares in the last quarter. Vanguard Group Inc. grew its position in 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 acquiring an additional 76,267 shares in the last quarter. Duncan Williams Asset Management LLC purchased a new position in Global Medical REIT in the third quarter worth about $538,000. CANADA LIFE ASSURANCE Co grew its position in Global Medical REIT by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after acquiring an additional 1,592 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in Global Medical REIT by 900.1% in the third quarter. International Assets Investment Management LLC now owns 21,313 shares of the company’s stock worth $2,151,000 after acquiring an additional 19,182 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on GMRE shares. Alliance Global Partners started coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price objective for the company. Berenberg Bank started coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Stock Up 1.8 %

Shares of NYSE GMRE opened at $8.86 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $591.85 million, a P/E ratio of -442.78, a PEG ratio of 1.50 and a beta of 1.25. Global Medical REIT Inc. has a 1 year low of $7.98 and a 1 year high of $11.59. The firm has a 50-day simple moving average of $9.32 and a two-hundred day simple moving average of $9.24.

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

Global Medical REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 9.48%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is -4,197.90%.

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.