Allianz Asset Management GmbH Has $403,000 Position in Global Medical REIT Inc. $GMRE

Allianz Asset Management GmbH cut its position in Global Medical REIT Inc. (NYSE:GMRE) by 66.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,955 shares of the company’s stock after selling 23,786 shares during the period. Allianz Asset Management GmbH owned about 0.09% of Global Medical REIT worth $403,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GMRE. Samalin Investment Counsel LLC bought a new stake in shares of Global Medical REIT in the third quarter worth about $273,000. New York State Teachers Retirement System acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at approximately $39,000. Peregrine Capital Management LLC bought a new stake in Global Medical REIT during the 3rd quarter worth approximately $4,785,000. Osaic Holdings Inc. raised its holdings in Global Medical REIT by 61.5% during the 2nd quarter. Osaic Holdings Inc. now owns 57,283 shares of the company’s stock worth $401,000 after buying an additional 21,810 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in Global Medical REIT in the second quarter valued at approximately $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GMRE. Robert W. Baird reduced their target price on shares of 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. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Global Medical REIT 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 $36.21 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. The stock has a 50 day moving average price of $35.00 and a 200 day moving average price of $34.21. The stock has a market capitalization of $485.58 million, a PE ratio of -144.84 and a beta of 1.18. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $45.75.

Global Medical REIT Dividend Announcement

The company 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. This represents a $3.00 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Friday, December 19th. Global Medical REIT’s payout ratio is presently -1,200.00%.

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.