Global Medical REIT Inc. (NYSE:GMRE) Short Interest Update

Global Medical REIT Inc. (NYSE:GMRE) was the target of a large growth in short interest in September. As of September 30th, there was short interest totalling 1,200,000 shares, a growth of 8.1% from the September 15th total of 1,110,000 shares. Based on an average daily trading volume, of 389,400 shares, the short-interest ratio is presently 3.1 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP purchased a new stake in Global Medical REIT in the 4th quarter valued at about $3,475,000. Pensionfund Sabic raised its holdings in Global Medical REIT by 9.3% in the 1st quarter. Pensionfund Sabic now owns 70,200 shares of the company’s stock valued at $614,000 after buying an additional 6,000 shares during the period. BTC Capital Management Inc. purchased a new stake in Global Medical REIT in the 1st quarter valued at about $143,000. Royal Fund Management LLC raised its holdings in Global Medical REIT by 6.8% in the 1st quarter. Royal Fund Management LLC now owns 82,264 shares of the company’s stock valued at $720,000 after buying an additional 5,247 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in Global Medical REIT by 10.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after buying an additional 97,630 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 target price for the company.

Global Medical REIT Price Performance

Shares of NYSE GMRE opened at $9.46 on Wednesday. The firm has a market cap of $620.46 million, a PE ratio of 41.13, a PEG ratio of 1.37 and a beta of 1.25. The firm has a fifty day moving average of $9.44 and a 200 day moving average of $9.09. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. Global Medical REIT has a one year low of $7.98 and a one year high of $11.59.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.25). The company had revenue of $34.24 million during the quarter, compared to analysts’ expectations of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same period in the previous year, the firm posted $0.23 EPS. As a group, research analysts predict that Global Medical REIT will post 0.85 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 8.88%. Global Medical REIT’s payout ratio is 365.22%.

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.