Nuveen Asset Management LLC cut its position in shares of Global Medical REIT Inc (NYSE:GMRE) by 13.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 331,032 shares of the company’s stock after selling 53,424 shares during the quarter. Nuveen Asset Management LLC owned about 0.74% of Global Medical REIT worth $3,350,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of GMRE. Prudential Financial Inc. bought a new position in Global Medical REIT during the fourth quarter worth $12,650,000. FMR LLC bought a new position in shares of Global Medical REIT in the fourth quarter valued at $9,759,000. BlackRock Inc. lifted its stake in shares of Global Medical REIT by 16.2% in the first quarter. BlackRock Inc. now owns 3,022,953 shares of the company’s stock valued at $30,593,000 after buying an additional 420,388 shares in the last quarter. Psagot Investment House Ltd. lifted its stake in shares of Global Medical REIT by 52.7% in the fourth quarter. Psagot Investment House Ltd. now owns 975,587 shares of the company’s stock valued at $12,907,000 after buying an additional 336,566 shares in the last quarter. Finally, Bullseye Asset Management LLC bought a new position in shares of Global Medical REIT in the fourth quarter valued at $2,724,000. Institutional investors own 59.77% of the company’s stock.
A number of research analysts have weighed in on the stock. Robert W. Baird raised their price objective on shares of Global Medical REIT from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. ValuEngine lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. B. Riley raised shares of Global Medical REIT from a “neutral” rating to a “buy” rating and dropped their price target for the company from $16.00 to $12.00 in a research report on Wednesday, March 18th. TheStreet lowered shares of Global Medical REIT from a “b-” rating to a “c+” rating in a research report on Thursday, May 7th. Finally, Zacks Investment Research lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Global Medical REIT has a consensus rating of “Buy” and an average price target of $14.75.
Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.17). Global Medical REIT had a net margin of 11.13% and a return on equity of 2.58%. The firm had revenue of $21.65 million during the quarter, compared to the consensus estimate of $21.04 million. On average, sell-side analysts expect that Global Medical REIT Inc will post 0.82 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Thursday, June 25th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $0.80 annualized dividend and a yield of 7.09%. Global Medical REIT’s payout ratio is presently 106.67%.
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.
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