DAVENPORT & Co LLC Trims Stake in Global Medical REIT Inc. (NYSE:GMRE)

DAVENPORT & Co LLC reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 11.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,500 shares of the company’s stock after selling 1,500 shares during the period. DAVENPORT & Co LLC’s holdings in Global Medical REIT were worth $89,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GMRE. JPMorgan Chase & Co. boosted its position in shares of Global Medical REIT by 54.3% in the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock worth $2,298,000 after purchasing an additional 81,596 shares during the period. Franklin Resources Inc. grew 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 worth $1,073,000 after purchasing an additional 80,030 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Global Medical REIT by 158.6% during the 3rd 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 purchasing an additional 73,965 shares during the period. Barclays PLC lifted its holdings in Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock worth $1,527,000 after purchasing an additional 71,704 shares in the last quarter. Finally, FMR LLC lifted its holdings in Global Medical REIT by 39.5% in the 3rd quarter. FMR LLC now owns 184,550 shares of the company’s stock worth $1,829,000 after purchasing an additional 52,281 shares in the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Global Medical REIT Stock Performance

NYSE:GMRE opened at $7.91 on Monday. The stock’s fifty day moving average is $8.01 and its 200 day moving average is $8.85. Global Medical REIT Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $10.46. The firm has a market capitalization of $528.05 million, a PE ratio of -395.05, a PEG ratio of 1.35 and a beta of 1.24. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.63%. Global Medical REIT’s payout ratio is presently -4,197.90%.

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.