ProShare Advisors LLC Acquires 5,629 Shares of Global Medical REIT Inc. (NYSE:GMRE)

ProShare Advisors LLC raised its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 49.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 17,111 shares of the company’s stock after acquiring an additional 5,629 shares during the period. ProShare Advisors LLC’s holdings in Global Medical REIT were worth $132,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP boosted its position in shares of Global Medical REIT by 111.5% during the fourth quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after purchasing an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. raised its stake 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 worth $48,000 after buying an additional 2,301 shares during the period. Corton Capital Inc. acquired a new stake in Global Medical REIT during the 4th quarter worth $85,000. KLP Kapitalforvaltning AS bought a new position in Global Medical REIT during the fourth quarter worth about $91,000. Finally, Commonwealth Equity Services LLC lifted its holdings in Global Medical REIT by 16.8% during the fourth 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 in the last quarter. Institutional investors own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

GMRE has been the subject of a number of research analyst reports. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Robert W. Baird decreased their price objective on Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, B. Riley began coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.44.

Global Medical REIT Stock Performance

GMRE opened at $6.33 on Tuesday. The company has a market capitalization of $423.29 million, a price-to-earnings ratio of -316.34, a P/E/G ratio of 1.43 and a beta of 1.23. The business’s 50-day moving average price is $7.29 and its two-hundred day moving average price is $7.93. Global Medical REIT Inc. has a 1 year low of $6.06 and a 1 year high of $10.46. 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 (NYSE:GMRE) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.22. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The business had revenue of $34.60 million during the quarter, compared to the consensus estimate of $35.49 million. Equities analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Friday, June 20th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.48%. Global Medical REIT’s dividend payout ratio (DPR) is presently 2,000.00%.

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.