Envestnet Asset Management Inc. Sells 3,769 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Envestnet Asset Management Inc. lowered its stake in Global Medical REIT Inc. (NYSE:GMRE) by 17.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,248 shares of the company’s stock after selling 3,769 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Global Medical REIT were worth $133,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its holdings in Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after purchasing an additional 2,301 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Global Medical REIT in the fourth quarter worth approximately $91,000. Commonwealth Equity Services LLC lifted its stake in shares of Global Medical REIT by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock worth $98,000 after acquiring an additional 1,819 shares during the last quarter. Caisse Des Depots ET Consignations purchased a new stake in Global Medical REIT in the fourth quarter worth $100,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Global Medical REIT in the fourth quarter worth about $178,000. Institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GMRE has been the topic of a number of recent research reports. B. Riley initiated coverage on Global Medical REIT in a research report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price objective on the stock. Robert W. Baird dropped their target price on Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday.

Global Medical REIT Trading Down 9.6 %

GMRE opened at $6.96 on Friday. The business has a fifty day moving average price of $8.04 and a 200 day moving average price of $8.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT Inc. has a 12 month low of $6.75 and a 12 month high of $10.46. The stock has a market capitalization of $465.09 million, a price-to-earnings ratio of -347.58, a PEG ratio of 1.43 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, hitting the consensus estimate of $0.22. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. Sell-side analysts expect that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 12.08%. 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 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.