Alps Advisors Inc. Sells 106,865 Shares of Global Medical REIT Inc. $GMRE

Alps Advisors Inc. trimmed its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 80.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,731 shares of the company’s stock after selling 106,865 shares during the period. Alps Advisors Inc. owned approximately 0.20% of Global Medical REIT worth $901,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of GMRE. AQR Capital Management LLC lifted its holdings in Global Medical REIT by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after purchasing an additional 5,062 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Global Medical REIT by 23,920.0% during the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after buying an additional 23,920 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock worth $3,400,000 after buying an additional 45,243 shares in the last quarter. Strs Ohio bought a new position in shares of Global Medical REIT in the first quarter valued at approximately $95,000. Finally, Connors Investor Services Inc. grew its stake in Global Medical REIT by 40.7% during the second quarter. Connors Investor Services Inc. now owns 384,814 shares of the company’s stock valued at $2,667,000 after acquiring an additional 111,402 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on GMRE shares. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Robert W. Baird dropped their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Global Medical REIT Stock Performance

Shares of NYSE GMRE opened at $36.79 on Thursday. The stock’s 50-day moving average is $34.85 and its 200 day moving average is $34.19. The stock has a market cap of $493.35 million, a price-to-earnings ratio of -147.16 and a beta of 1.18. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $45.75. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65.

Global Medical REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 19th. This represents a $3.00 annualized dividend and a yield of 8.2%. Global Medical REIT’s dividend payout ratio is currently -1,200.00%.

Insider Transactions at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were acquired at an average cost of $32.58 per share, with a total value of $325,800.00. Following the purchase, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.50% of the stock is currently owned by insiders.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.