Geode Capital Management LLC Acquires 25,820 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Geode Capital Management LLC raised its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,647,979 shares of the company’s stock after purchasing an additional 25,820 shares during the quarter. Geode Capital Management LLC owned 2.47% of Global Medical REIT worth $12,724,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commonwealth Equity Services LLC lifted its holdings in shares of Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock valued at $98,000 after acquiring an additional 1,819 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Global Medical REIT by 58.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after purchasing an additional 2,301 shares during the last quarter. Rhumbline Advisers raised its holdings in Global Medical REIT by 2.6% during the 4th quarter. Rhumbline Advisers now owns 108,862 shares of the company’s stock valued at $840,000 after buying an additional 2,731 shares during the period. New York State Common Retirement Fund lifted its position in Global Medical REIT by 3.2% in the fourth quarter. New York State Common Retirement Fund now owns 94,158 shares of the company’s stock worth $727,000 after buying an additional 2,900 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in Global Medical REIT by 13.8% in the fourth quarter. SG Americas Securities LLC now owns 25,828 shares of the company’s stock worth $199,000 after buying an additional 3,128 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Price Performance

Shares of GMRE stock opened at $7.48 on Tuesday. The stock has a 50 day moving average price of $8.25 and a 200 day moving average price of $8.39. Global Medical REIT Inc. has a 52-week low of $6.75 and a 52-week high of $10.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market capitalization of $500.20 million, a P/E ratio of -373.81, a P/E/G ratio of 1.43 and a beta of 1.12.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.21. The business had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were paid a $0.21 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 11.23%. Global Medical REIT’s dividend payout ratio is currently 8,400.00%.

Analyst Ratings Changes

Separately, B. Riley began coverage on shares of Global Medical REIT in a research note on Thursday, April 3rd. They issued a “neutral” rating and a $9.00 target price on the stock.

Global Medical REIT 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.