Wells Fargo & Company MN Buys 9,880 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Wells Fargo & Company MN raised its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 16.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,261 shares of the company’s stock after acquiring an additional 9,880 shares during the period. Wells Fargo & Company MN owned about 0.10% of Global Medical REIT worth $527,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised its position in 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. KLP Kapitalforvaltning AS bought a new position in shares of Global Medical REIT during the fourth quarter valued at approximately $91,000. Commonwealth Equity Services LLC increased its position in Global Medical REIT by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock valued at $98,000 after buying an additional 1,819 shares in the last quarter. Caisse Des Depots ET Consignations bought a new position in shares of Global Medical REIT in the fourth quarter worth approximately $100,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Global Medical REIT in the 4th quarter worth $178,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $7.81 on Friday. The firm has a market cap of $521.93 million, a PE ratio of -390.05, a PEG ratio of 1.43 and a beta of 1.23. The stock has a 50 day moving average of $8.13 and a 200 day moving average of $8.30. 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 Inc. has a 12 month low of $6.75 and a 12 month high of $10.46.

Global Medical REIT (NYSE:GMRE) last announced its quarterly 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. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The company had revenue of $35.16 million for the quarter, compared to analysts’ expectations of $34.87 million. On average, research analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 10.76%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is 8,400.00%.

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.