Millennium Management LLC Sells 124,630 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Millennium Management LLC reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 76.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,397 shares of the company’s stock after selling 124,630 shares during the period. Millennium Management LLC owned 0.06% of Global Medical REIT worth $289,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Quarry LP grew its holdings in Global Medical REIT by 111.5% during the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after acquiring an additional 2,604 shares during the period. PNC Financial Services Group Inc. grew its holdings 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 acquiring an additional 2,301 shares during the period. Corton Capital Inc. acquired a new stake in Global Medical REIT during the 4th quarter worth about $85,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Global Medical REIT in the 4th quarter valued at about $91,000. Finally, Commonwealth Equity Services LLC grew its stake 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 buying an additional 1,819 shares during the period. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

Shares of GMRE opened at $6.34 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a 50 day moving average price of $7.02 and a two-hundred day moving average price of $7.84. The firm has a market capitalization of $423.83 million, a P/E ratio of -316.74, a P/E/G ratio of 1.43 and a beta of 1.14. Global Medical REIT Inc. has a 52 week low of $6.06 and a 52 week high of $10.46.

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

Global Medical REIT Cuts Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 9.47%. Global Medical REIT’s dividend payout ratio is currently 2,000.00%.

Analyst Upgrades and Downgrades

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

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.