Global Medical REIT Inc. (NYSE:GMRE) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Global Medical REIT Inc. (NYSE:GMRE) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 853,103 shares of the company’s stock after purchasing an additional 41,172 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.30% of Global Medical REIT worth $8,454,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Intech Investment Management LLC acquired a new stake in shares of Global Medical REIT in the 3rd quarter valued at $150,000. Victory Capital Management Inc. raised its stake in Global Medical REIT by 5.1% during the 3rd quarter. Victory Capital Management Inc. now owns 138,222 shares of the company’s stock worth $1,370,000 after acquiring an additional 6,689 shares in the last quarter. Versor Investments LP acquired a new stake in Global Medical REIT during the 3rd quarter worth $189,000. State of New Jersey Common Pension Fund D raised its stake in Global Medical REIT by 8.0% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 637,751 shares of the company’s stock worth $6,320,000 after acquiring an additional 47,500 shares in the last quarter. Finally, M&G PLC acquired a new stake in Global Medical REIT during the 3rd quarter worth $193,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Stock Up 0.4 %

GMRE stock opened at $8.58 on Wednesday. The company has a market cap of $573.14 million, a P/E ratio of -428.79, a P/E/G ratio of 1.47 and a beta of 1.21. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59. The company’s 50-day moving average price is $9.05 and its 200 day moving average price is $9.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The company had revenue of $34.26 million for the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same period in the prior year, the firm posted $0.23 EPS. On average, research analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 9.79%. The ex-dividend date of this dividend is Friday, December 20th. Global Medical REIT’s payout ratio is currently -4,197.90%.

Wall Street Analyst Weigh In

GMRE has been the topic of several research analyst reports. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 price target on the stock. Berenberg Bank began coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 price target on the stock.

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.