Penserra Capital Management LLC Purchases 22,360 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Penserra Capital Management LLC boosted its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 21.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 128,518 shares of the company’s stock after buying an additional 22,360 shares during the period. Penserra Capital Management LLC’s holdings in Global Medical REIT were worth $1,124,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Cutler Capital Management LLC grew its stake in Global Medical REIT by 0.3% during the fourth quarter. Cutler Capital Management LLC now owns 450,279 shares of the company’s stock valued at $3,476,000 after acquiring an additional 1,376 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Global Medical REIT by 2.5% in the 4th quarter. Legal & General Group Plc now owns 61,525 shares of the company’s stock worth $475,000 after buying an additional 1,496 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock worth $98,000 after buying an additional 1,819 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after buying an additional 2,301 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after buying an additional 2,604 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Mark Okey Decker, Jr. acquired 57,332 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The stock was bought at an average price of $6.50 per share, for a total transaction of $372,658.00. Following the acquisition, the chief executive officer directly owned 160,000 shares of the company’s stock, valued at $1,040,000. This represents a 55.84% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.50% of the stock is owned by insiders.

Global Medical REIT Price Performance

GMRE stock opened at $7.18 on Wednesday. Global Medical REIT Inc. has a 12 month low of $6.06 and a 12 month high of $10.46. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average price of $6.70 and a 200 day moving average price of $7.58. The stock has a market cap of $480.13 million, a PE ratio of 239.41, a P/E/G ratio of 1.22 and a beta of 1.16.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. Global Medical REIT had a net margin of 5.87% and a return on equity of 1.68%. The company had revenue of $34.60 million during the quarter, compared to analyst estimates of $35.49 million. Equities research analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.36%. Global Medical REIT’s payout ratio is 2,000.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird dropped their price objective on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, B. Riley initiated coverage on shares of Global Medical REIT in a research note on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.44.

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.