Northern Trust Corp Purchases 60,897 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Northern Trust Corp grew its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 628,869 shares of the company’s stock after acquiring an additional 60,897 shares during the period. Northern Trust Corp owned about 0.94% of Global Medical REIT worth $4,855,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP boosted its holdings in Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after acquiring an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of 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 during the period. KLP Kapitalforvaltning AS bought a new stake in shares of Global Medical REIT during the 4th quarter valued at about $91,000. Commonwealth Equity Services LLC boosted 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 valued at $98,000 after purchasing an additional 1,819 shares in the last quarter. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Global Medical REIT during the fourth quarter valued at about $100,000. 57.52% of the stock is owned by institutional investors.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $6.27 on Thursday. Global Medical REIT Inc. has a 12 month low of $6.26 and a 12 month high of $10.46. The firm has a market capitalization of $419.41 million, a P/E ratio of -313.44, a P/E/G ratio of 1.43 and a beta of 1.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The business has a fifty day simple moving average of $7.66 and a two-hundred day simple moving average of $8.09.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.22. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The company had revenue of $34.60 million during the quarter, compared to analysts’ expectations of $35.49 million. On average, equities analysts forecast that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 13.39%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT’s dividend payout ratio is 2,800.00%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on GMRE. 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 objective for the company. Robert W. Baird reduced their target price on Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th.

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.