Rhumbline Advisers Has $913,000 Position in Global Medical REIT Inc. (NYSE:GMRE)

Rhumbline Advisers reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,288 shares of the company’s stock after selling 4,574 shares during the period. Rhumbline Advisers owned about 0.16% of Global Medical REIT worth $913,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GMRE. Man Group plc boosted its position in Global Medical REIT by 321.7% in the fourth quarter. Man Group plc now owns 561,022 shares of the company’s stock valued at $4,331,000 after buying an additional 427,987 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Global Medical REIT in the fourth quarter valued at about $2,904,000. JPMorgan Chase & Co. boosted its position in Global Medical REIT by 94.5% in the fourth quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company’s stock valued at $3,483,000 after buying an additional 219,270 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Global Medical REIT in the fourth quarter valued at about $1,430,000. Finally, Pacific Ridge Capital Partners LLC boosted its position in Global Medical REIT by 31.9% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company’s stock valued at $5,497,000 after buying an additional 172,171 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Trading Down 2.4%

Shares of NYSE GMRE opened at $6.20 on Friday. Global Medical REIT Inc. has a 1-year low of $6.06 and a 1-year high of $10.46. The company has a market cap of $414.46 million, a PE ratio of 206.67, a P/E/G ratio of 1.09 and a beta of 1.14. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.44. The company has a 50-day moving average of $6.86 and a two-hundred day moving average of $7.71.

Global Medical REIT (NYSE:GMRE) last posted 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 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 5.87% and a return on equity of 1.68%. As a group, equities analysts expect that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Friday, June 20th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 9.68%. Global Medical REIT’s dividend payout ratio (DPR) is 2,800.00%.

Analyst Upgrades and Downgrades

A number of research firms have commented on GMRE. 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. Robert W. Baird reduced 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, B. Riley assumed coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They issued a “neutral” rating and a $9.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.