Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 36.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 144,945 shares of the company’s stock after selling 84,505 shares during the period. Allspring Global Investments Holdings LLC owned about 0.22% of Global Medical REIT worth $1,316,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in Global Medical REIT by 41.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock worth $63,000 after acquiring an additional 1,666 shares during the last quarter. Creekmur Asset Management LLC bought a new stake in shares of Global Medical REIT in the 4th quarter worth approximately $92,000. New York Life Investment Management LLC acquired a new position in Global Medical REIT during the 4th quarter valued at approximately $115,000. M&G Plc bought a new position in Global Medical REIT during the 1st quarter worth $141,000. Finally, BTC Capital Management Inc. bought a new position in Global Medical REIT during the 1st quarter worth $143,000. Institutional investors own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price target on shares of Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, May 13th.

Global Medical REIT Price Performance

Shares of NYSE:GMRE opened at $9.27 on Wednesday. The firm’s 50 day moving average is $9.28 and its two-hundred day moving average is $8.95. The firm has a market capitalization of $608.00 million, a P/E ratio of 40.30, a PEG ratio of 1.38 and a beta of 1.23. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.25). The business had revenue of $34.24 million during the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same quarter in the prior year, the business earned $0.23 earnings per share. Analysts anticipate that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Friday, June 21st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date was Friday, June 21st. Global Medical REIT’s dividend payout ratio is currently 365.22%.

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.