Wellington Management Group LLP Acquires New Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Wellington Management Group LLP bought a new stake in shares of Global Medical REIT Inc. (NYSE:GMRE) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 313,093 shares of the company’s stock, valued at approximately $3,475,000.

A number of other hedge funds have also added to or reduced their stakes in GMRE. Raymond James & Associates grew its position in Global Medical REIT by 1.3% during the fourth quarter. Raymond James & Associates now owns 121,871 shares of the company’s stock valued at $1,353,000 after buying an additional 1,606 shares during the period. Quadrant Capital Group LLC grew its position in shares of Global Medical REIT by 41.5% during the 4th quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after acquiring an additional 1,666 shares during the period. Royal Fund Management LLC increased its stake in shares of Global Medical REIT by 2.7% in the 4th quarter. Royal Fund Management LLC now owns 77,017 shares of the company’s stock worth $855,000 after purchasing an additional 1,997 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Global Medical REIT by 19.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,110 shares of the company’s stock worth $146,000 after purchasing an additional 2,114 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Global Medical REIT by 2.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 95,377 shares of the company’s stock worth $1,086,000 after purchasing an additional 2,179 shares during the period. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Global Medical REIT Price Performance

NYSE GMRE opened at $9.08 on Monday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.14. Global Medical REIT Inc. has a 12 month low of $7.98 and a 12 month high of $11.59. The stock has a market cap of $595.54 million, a price-to-earnings ratio of 39.48, a PEG ratio of 1.26 and a beta of 1.21. The company’s 50 day moving average is $8.81 and its two-hundred day moving average is $9.34.

Global Medical REIT Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors 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 9.25%. The ex-dividend date of this dividend is Friday, June 21st. Global Medical REIT’s dividend payout ratio (DPR) is 365.22%.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price target on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a report on Monday, May 13th.

About Global Medical REIT

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.