Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Increases By 7.3%

Global Medical REIT Inc. (NYSE:GMRE) saw a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,320,000 shares, a growth of 7.3% from the March 31st total of 1,230,000 shares. Based on an average trading volume of 399,800 shares, the days-to-cover ratio is currently 3.3 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th.

Global Medical REIT Stock Up 0.1 %

GMRE stock opened at $8.12 on Thursday. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.11. The firm has a 50 day simple moving average of $8.60 and a 200-day simple moving average of $9.51. The company has a market capitalization of $532.43 million, a P/E ratio of 35.30 and a beta of 1.13. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Friday, March 22nd were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 10.34%. Global Medical REIT’s dividend payout ratio (DPR) is 365.22%.

Institutional Trading of Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of the company. LSV Asset Management bought a new position in shares of Global Medical REIT in the 4th quarter worth about $5,386,000. Wellington Management Group LLP acquired a new stake in shares of Global Medical REIT during the 4th quarter worth approximately $3,475,000. Brown Advisory Inc. lifted its holdings in shares of Global Medical REIT by 27.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,423,088 shares of the company’s stock worth $12,765,000 after purchasing an additional 302,326 shares during the last quarter. abrdn plc acquired a new position in Global Medical REIT during the 4th quarter valued at approximately $1,941,000. Finally, Sound Income Strategies LLC grew its stake in Global Medical REIT by 10.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock worth $9,407,000 after buying an additional 97,630 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Company Profile

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.