Aberdeen Group plc Sells 139,919 Shares of Global Medical REIT Inc. $GMRE

Aberdeen Group plc lessened its stake in Global Medical REIT Inc. (NYSE:GMRE) by 80.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 34,978 shares of the company’s stock after selling 139,919 shares during the quarter. Aberdeen Group plc owned approximately 0.26% of Global Medical REIT worth $1,150,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. Strs Ohio increased its position in Global Medical REIT by 3,810.1% in the second quarter. Strs Ohio now owns 426,200 shares of the company’s stock worth $2,954,000 after buying an additional 415,300 shares during the last quarter. Gabelli Funds LLC bought a new position in shares of Global Medical REIT during the 2nd quarter worth $2,829,000. Invesco Ltd. grew its stake in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after acquiring an additional 355,355 shares during the period. Marshall Wace LLP increased its holdings in Global Medical REIT by 2,208.2% in the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after acquiring an additional 279,070 shares during the last quarter. Finally, Redmond Asset Management LLC raised its stake in Global Medical REIT by 63.0% in the 2nd quarter. Redmond Asset Management LLC now owns 426,622 shares of the company’s stock valued at $2,956,000 after acquiring an additional 164,909 shares during the period. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Down 0.2%

Shares of NYSE:GMRE opened at $35.93 on Friday. The firm has a fifty day moving average price of $35.16 and a two-hundred day moving average price of $34.30. The company has a market cap of $481.81 million, a price-to-earnings ratio of -143.72 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $45.75.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.00 annualized dividend and a dividend yield of 8.3%. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Analyst Ratings Changes

GMRE has been the subject of a number of research reports. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Robert W. Baird dropped their price target on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Global Medical REIT 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.