Pacific Ridge Capital Partners LLC Has $5.43 Million Position in Global Medical REIT Inc. (NYSE:GMRE)

Pacific Ridge Capital Partners LLC lowered its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 3.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 598,091 shares of the company’s stock after selling 21,692 shares during the quarter. Global Medical REIT comprises 1.3% of Pacific Ridge Capital Partners LLC’s portfolio, making the stock its 25th largest holding. Pacific Ridge Capital Partners LLC owned approximately 0.91% of Global Medical REIT worth $5,431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidal Investments LLC increased its stake in shares of Global Medical REIT by 5.8% in the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after purchasing an additional 1,504 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Global Medical REIT by 2.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after buying an additional 1,592 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Global Medical REIT by 7.2% during the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock worth $273,000 after buying an additional 2,033 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Global Medical REIT by 8.6% during the first quarter. Oppenheimer & Co. Inc. now owns 26,988 shares of the company’s stock worth $236,000 after buying an additional 2,146 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Global Medical REIT by 7.8% in the second quarter. The Manufacturers Life Insurance Company now owns 48,186 shares of the company’s stock valued at $438,000 after acquiring an additional 3,471 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Up 0.6 %

Shares of NYSE:GMRE opened at $9.88 on Friday. The company’s fifty day moving average is $9.45 and its 200-day moving average is $9.01. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59. The company has a market capitalization of $648.01 million, a PE ratio of 42.96, a P/E/G ratio of 1.45 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). The firm had revenue of $34.24 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.23 EPS. Equities research analysts predict that Global Medical REIT Inc. will post 0.85 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 8.50%. The ex-dividend date is Friday, September 20th. Global Medical REIT’s payout ratio is presently 365.22%.

Analysts Set New Price Targets

Separately, Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 price objective for the company.

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.