Bank of New York Mellon Corp Reduces Stake in Global Medical REIT Inc. (NYSE:GMRE)

Bank of New York Mellon Corp lowered its stake in Global Medical REIT Inc. (NYSE:GMRE) by 1.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 979,758 shares of the company’s stock after selling 17,370 shares during the period. Bank of New York Mellon Corp owned approximately 1.49% of Global Medical REIT worth $8,926,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Beck Capital Management LLC purchased a new position in Global Medical REIT in the fourth quarter worth about $2,434,000. Commonwealth Equity Services LLC grew its position in Global Medical REIT by 10.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 13,283 shares of the company’s stock worth $125,000 after acquiring an additional 1,210 shares in the last quarter. GPS Wealth Strategies Group LLC purchased a new position in Global Medical REIT in the first quarter worth about $26,000. Bailard Inc. purchased a new position in Global Medical REIT in the first quarter worth about $194,000. Finally, Pensionfund Sabic grew its position in Global Medical REIT by 12.4% in the first quarter. Pensionfund Sabic now owns 54,200 shares of the company’s stock worth $494,000 after acquiring an additional 6,000 shares in the last quarter. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $9.67 on Friday. The company has a 50 day moving average price of $9.62 and a 200-day moving average price of $9.37. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.13 and a current ratio of 0.13. Global Medical REIT Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $11.79. The company has a market capitalization of $634.01 million, a PE ratio of 30.22, a P/E/G ratio of 1.37 and a beta of 1.07.

Global Medical REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 11th. Stockholders of record on Friday, June 23rd were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 8.69%. The ex-dividend date was Thursday, June 22nd. Global Medical REIT’s dividend payout ratio is presently 262.50%.

Wall Street Analyst Weigh In

Several analysts have issued reports on GMRE shares. StockNews.com started coverage on shares of Global Medical REIT in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Compass Point raised their price objective on shares of Global Medical REIT from $11.00 to $12.50 in a research note on Friday, August 4th. Finally, B. Riley decreased their price objective on shares of Global Medical REIT from $12.00 to $11.00 in a research note on Monday, May 8th.

About Global Medical REIT

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.