Quarry LP Acquires 2,604 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Quarry LP lifted its stake in Global Medical REIT Inc. (NYSE:GMRE) by 111.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,940 shares of the company’s stock after purchasing an additional 2,604 shares during the period. Quarry LP’s holdings in Global Medical REIT were worth $38,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in shares of Global Medical REIT by 94.5% during the 4th quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company’s stock worth $3,483,000 after buying an additional 219,270 shares during the period. Raymond James Financial Inc. acquired a new position in Global Medical REIT during the fourth quarter valued at approximately $1,430,000. Pacific Ridge Capital Partners LLC increased its stake in Global Medical REIT by 31.9% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company’s stock valued at $5,497,000 after purchasing an additional 172,171 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after purchasing an additional 80,030 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares during the period. 57.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, B. Riley initiated coverage on Global Medical REIT in a research note on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price objective on the stock.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $7.81 on Friday. The company has a market capitalization of $521.93 million, a P/E ratio of -390.05, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Global Medical REIT Inc. has a 52 week low of $6.75 and a 52 week high of $10.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The company’s 50 day moving average price is $8.13 and its two-hundred day moving average price is $8.30.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.01 by $0.21. The business had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. On average, analysts expect that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 10.76%. Global Medical REIT’s dividend payout ratio is currently 8,400.00%.

Global Medical REIT 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.