JPMorgan Chase & Co. Grows Stake in Global Medical REIT Inc. (NYSE:GMRE)

JPMorgan Chase & Co. raised its stake in Global Medical REIT Inc. (NYSE:GMRE) by 54.3% during the third quarter, HoldingsChannel reports. The fund owned 231,927 shares of the company’s stock after buying an additional 81,596 shares during the period. JPMorgan Chase & Co.’s holdings in Global Medical REIT were worth $2,298,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after buying an additional 80,030 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Global Medical REIT by 158.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock valued at $1,195,000 after buying an additional 73,965 shares during the last quarter. Barclays PLC boosted its position in shares of Global Medical REIT by 87.1% during the third quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares during the last quarter. Duncan Williams Asset Management LLC purchased a new stake in shares of Global Medical REIT during the third quarter valued at $538,000. Finally, State Street Corp boosted its position in shares of Global Medical REIT by 1.5% during the third quarter. State Street Corp now owns 1,924,433 shares of the company’s stock valued at $19,468,000 after buying an additional 28,444 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Berenberg Bank initiated coverage on Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock.

Global Medical REIT Stock Up 0.9 %

NYSE GMRE opened at $8.05 on Wednesday. The stock’s 50-day moving average price is $8.25 and its 200-day moving average price is $8.99. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT Inc. has a 52 week low of $7.33 and a 52 week high of $10.58. The company has a market capitalization of $537.41 million, a P/E ratio of -402.05, a price-to-earnings-growth ratio of 1.36 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). The business had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period last year, the business posted $0.23 EPS. On average, equities research analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 10.44%. The ex-dividend date was Friday, December 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,197.90%.

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.