Invesco Ltd. Cuts Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Invesco Ltd. lowered its position in Global Medical REIT Inc. (NYSE:GMRE) by 15.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,229,075 shares of the company’s stock after selling 226,214 shares during the period. Invesco Ltd. owned about 1.84% of Global Medical REIT worth $9,488,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Barclays PLC increased its stake in Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Medical REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock valued at $16,078,000 after acquiring an additional 18,209 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after acquiring an additional 80,030 shares during the period. JPMorgan Chase & Co. boosted its position in Global Medical REIT by 54.3% in the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock worth $2,298,000 after purchasing an additional 81,596 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in Global Medical REIT by 13.8% in the 4th quarter. SG Americas Securities LLC now owns 25,828 shares of the company’s stock valued at $199,000 after purchasing an additional 3,128 shares during the period. 57.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Global Medical REIT Price Performance

Global Medical REIT stock opened at $7.66 on Thursday. The business’s 50 day simple moving average is $8.22 and its 200 day simple moving average is $8.38. Global Medical REIT Inc. has a 12 month low of $6.75 and a 12 month high of $10.46. The company has a market cap of $512.23 million, a price-to-earnings ratio of -382.81, a PEG ratio of 1.43 and a beta of 1.12. 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 issued its quarterly earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.87 million. Sell-side analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 10.97%. Global Medical REIT’s payout ratio is 8,400.00%.

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.