Royal Fund Management LLC Acquires 5,247 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Royal Fund Management LLC boosted its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 82,264 shares of the company’s stock after purchasing an additional 5,247 shares during the quarter. Royal Fund Management LLC owned about 0.13% of Global Medical REIT worth $720,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in GMRE. Swiss National Bank raised its position in shares of Global Medical REIT by 1.8% during the third quarter. Swiss National Bank now owns 136,800 shares of the company’s stock worth $1,227,000 after purchasing an additional 2,400 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Global Medical REIT by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 778,081 shares of the company’s stock valued at $6,979,000 after buying an additional 16,134 shares in the last quarter. Invesco Ltd. increased its position in shares of Global Medical REIT by 6.9% during the third quarter. Invesco Ltd. now owns 1,030,423 shares of the company’s stock worth $9,243,000 after acquiring an additional 66,802 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Global Medical REIT by 1.3% in the 3rd quarter. Stifel Financial Corp now owns 841,768 shares of the company’s stock worth $7,551,000 after acquiring an additional 10,566 shares during the last quarter. Finally, Hodges Capital Management Inc. bought a new position in Global Medical REIT in the 3rd quarter valued at about $233,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock traded up $0.04 during mid-day trading on Monday, hitting $8.85. 17,507 shares of the stock were exchanged, compared to its average volume of 389,348. Global Medical REIT Inc. has a 12 month low of $7.98 and a 12 month high of $11.59. The company has a 50-day simple moving average of $8.73 and a 200 day simple moving average of $9.40. The company has a market capitalization of $580.47 million, a P/E ratio of 38.30, a P/E/G ratio of 1.28 and a beta of 1.21. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.22 and a current ratio of 0.22.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Friday, June 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date is Friday, June 21st. Global Medical REIT’s payout ratio is 365.22%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GMRE. StockNews.com lowered Global Medical REIT from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. B. Riley cut their price objective on shares of Global Medical REIT from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, May 13th.

Global Medical REIT 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.