Envestnet Asset Management Inc. Has $935,000 Stake in Global Medical REIT Inc. (NYSE:GMRE)

Envestnet Asset Management Inc. raised its position in shares of Global Medical REIT Inc. (NYSE:GMREGet Rating) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,244 shares of the company’s stock after buying an additional 5,199 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Global Medical REIT worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. SJS Investment Consulting Inc. acquired a new stake in shares of Global Medical REIT in the first quarter valued at approximately $25,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Global Medical REIT by 50.0% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,000 shares of the company’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. Amalgamated Bank acquired a new stake in shares of Global Medical REIT in the first quarter valued at approximately $118,000. Versor Investments LP acquired a new stake in shares of Global Medical REIT in the second quarter valued at approximately $113,000. Finally, Advisory Services Network LLC acquired a new stake in shares of Global Medical REIT in the first quarter valued at approximately $165,000. Institutional investors and hedge funds own 68.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GMRE. BMO Capital Markets lowered shares of Global Medical REIT from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Robert W. Baird cut shares of Global Medical REIT from an “outperform” rating to a “neutral” rating in a research note on Monday, October 10th. StockNews.com raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Finally, Compass Point reduced their price objective on shares of Global Medical REIT to $17.00 in a research note on Monday, August 15th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Global Medical REIT presently has a consensus rating of “Hold” and a consensus target price of $16.50.

Global Medical REIT Trading Up 0.3 %

Shares of NYSE GMRE opened at $9.54 on Friday. The company’s fifty day moving average is $8.76 and its 200-day moving average is $10.70. The stock has a market cap of $625.06 million, a price-to-earnings ratio of 38.16, a P/E/G ratio of 1.29 and a beta of 1.02. Global Medical REIT Inc. has a twelve month low of $7.01 and a twelve month high of $18.51. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 1.09.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 11th. Stockholders of record on Friday, September 23rd were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, September 22nd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.81%. Global Medical REIT’s dividend payout ratio is 336.00%.

About Global Medical REIT

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Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.

See Also

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

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