Squarepoint Ops LLC Invests $82,000 in Global Medical REIT Inc. (NYSE:GMRE)

Squarepoint Ops LLC purchased a new position in Global Medical REIT Inc. (NYSE:GMRE) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,660 shares of the company’s stock, valued at approximately $82,000.

Several other hedge funds have also recently modified their holdings of the business. Quarry LP boosted its holdings in shares of Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after acquiring an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings 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 valued at $48,000 after acquiring an additional 2,301 shares during the last quarter. Corton Capital Inc. purchased a new stake in shares of Global Medical REIT in the 4th quarter valued at $85,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Global Medical REIT in the 4th quarter valued at $91,000. Finally, Commonwealth Equity Services LLC boosted its holdings in shares of Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock valued at $98,000 after acquiring an additional 1,819 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Trading Down 1.1%

Shares of Global Medical REIT stock opened at $6.31 on Tuesday. The company has a fifty day simple moving average of $7.05 and a 200-day simple moving average of $7.85. Global Medical REIT Inc. has a 12-month low of $6.06 and a 12-month high of $10.46. 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 stock has a market cap of $421.96 million, a price-to-earnings ratio of -315.34, a PEG ratio of 1.43 and a beta of 1.14.

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

Global Medical REIT Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 9.51%. Global Medical REIT’s dividend payout ratio (DPR) is currently 2,000.00%.

Wall Street Analyst Weigh In

Several analysts recently commented on GMRE shares. B. Riley started coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price target on the stock. Robert W. Baird dropped their price target on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $10.44.

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.