Fmr LLC Buys 52,281 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Fmr LLC grew its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 39.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 184,550 shares of the company’s stock after purchasing an additional 52,281 shares during the quarter. Fmr LLC’s holdings in Global Medical REIT were worth $1,829,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of Global Medical REIT by 78.5% during the second quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after buying an additional 520,583 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Global Medical REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after purchasing an additional 6,676 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Global Medical REIT by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 853,103 shares of the company’s stock valued at $8,454,000 after purchasing an additional 41,172 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Global Medical REIT by 8.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 637,751 shares of the company’s stock valued at $6,320,000 after purchasing an additional 47,500 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Global Medical REIT by 1.0% in the third quarter. D.A. Davidson & CO. now owns 441,672 shares of the company’s stock valued at $4,377,000 after purchasing an additional 4,202 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GMRE. Berenberg Bank began coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price for the company. Alliance Global Partners started coverage on shares of Global Medical REIT in a report 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 GMRE stock opened at $8.46 on Monday. The stock’s 50-day simple moving average is $8.99 and its 200-day simple moving average is $9.22. The firm has a market capitalization of $565.13 million, a price-to-earnings ratio of -422.79, a PEG ratio of 1.47 and a beta of 1.21. Global Medical REIT Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $11.59. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million during the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same quarter in the prior year, the company posted $0.23 EPS. As a group, equities analysts forecast that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 20th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 9.93%. The ex-dividend date is Friday, December 20th. Global Medical REIT’s payout ratio is currently -4,197.90%.

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.