BlackRock Inc. Raises Stake in Global Medical REIT Inc (GMRE)

BlackRock Inc. grew its position in Global Medical REIT Inc (NYSE:GMRE) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,059,753 shares of the company’s stock after buying an additional 39,560 shares during the quarter. BlackRock Inc. owned 4.75% of Global Medical REIT worth $9,422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of Global Medical REIT by 1.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 111,188 shares of the company’s stock valued at $988,000 after buying an additional 1,181 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Global Medical REIT by 10.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,526 shares of the company’s stock valued at $138,000 after buying an additional 1,474 shares in the last quarter. Strs Ohio grew its stake in shares of Global Medical REIT by 5.9% in the fourth quarter. Strs Ohio now owns 32,574 shares of the company’s stock valued at $289,000 after buying an additional 1,819 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Global Medical REIT by 3.0% in the third quarter. Bank of New York Mellon Corp now owns 190,096 shares of the company’s stock valued at $1,791,000 after buying an additional 5,543 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Global Medical REIT by 0.9% in the third quarter. Vanguard Group Inc. now owns 899,741 shares of the company’s stock valued at $8,475,000 after buying an additional 7,614 shares in the last quarter. 41.76% of the stock is owned by institutional investors and hedge funds.

GMRE has been the subject of a number of research reports. B. Riley set a $11.00 price objective on Global Medical REIT and gave the company a “buy” rating in a research note on Friday, March 8th. Boenning Scattergood reiterated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Tuesday, January 8th. Finally, Stifel Nicolaus initiated coverage on Global Medical REIT in a report on Monday, April 15th. They issued a “buy” rating and a $11.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.67.

NYSE:GMRE opened at $10.09 on Monday. The firm has a market capitalization of $265.60 million, a P/E ratio of 12.94, a P/E/G ratio of 1.35 and a beta of 0.61. Global Medical REIT Inc has a 12-month low of $7.55 and a 12-month high of $11.02. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.25.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Thursday, March 7th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. The firm had revenue of $14.38 million during the quarter, compared to analyst estimates of $14.46 million. Global Medical REIT had a return on equity of 6.29% and a net margin of 22.62%. Equities research analysts predict that Global Medical REIT Inc will post 0.83 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 26th were issued a $0.20 dividend. The ex-dividend date was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 7.93%. Global Medical REIT’s dividend payout ratio (DPR) is presently 102.56%.

In related news, Director Roscoe M. Moore, Jr. sold 5,945 shares of Global Medical REIT stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.75, for a total value of $57,963.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.00% of the company’s stock.

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Global Medical REIT Profile

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

Read More: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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