Bank of New York Mellon Corp Has $13.56 Million Stake in Global Medical REIT Inc. (NYSE:GMRE)

Bank of New York Mellon Corp boosted its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,550,157 shares of the company’s stock after buying an additional 144,671 shares during the period. Bank of New York Mellon Corp owned approximately 2.32% of Global Medical REIT worth $13,564,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GMRE. Geode Capital Management LLC lifted its position in shares of Global Medical REIT by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company’s stock worth $12,724,000 after purchasing an additional 25,820 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Global Medical REIT by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company’s stock valued at $9,728,000 after purchasing an additional 128,449 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Global Medical REIT by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 877,096 shares of the company’s stock valued at $6,771,000 after purchasing an additional 23,993 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in shares of Global Medical REIT by 31.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company’s stock worth $5,497,000 after acquiring an additional 172,171 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of Global Medical REIT by 10.7% in the 4th quarter. Northern Trust Corp now owns 628,869 shares of the company’s stock worth $4,855,000 after acquiring an additional 60,897 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GMRE has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. B. Riley began 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. Finally, Robert W. Baird cut their target price on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.44.

Insiders Place Their Bets

In related news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was bought at an average price of $6.50 per share, with a total value of $372,658.00. Following the completion of the transaction, the chief executive officer owned 160,000 shares of the company’s stock, valued at approximately $1,040,000. This represents a 55.84% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.50% of the company’s stock.

Global Medical REIT Stock Up 0.3%

Global Medical REIT stock opened at $7.18 on Friday. The firm has a market cap of $480.13 million, a price-to-earnings ratio of 239.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.16. Global Medical REIT Inc. has a 52 week low of $6.06 and a 52 week high of $10.46. The business’s 50-day moving average price is $6.64 and its 200 day moving average price is $7.54. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.44.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. Global Medical REIT had a return on equity of 1.68% and a net margin of 5.87%. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $35.49 million. As a group, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 8.36%. Global Medical REIT’s payout ratio is 2,000.00%.

Global Medical REIT Company 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.