Global Medical REIT (NYSE:GMRE) Shares Gap Up to $10.15

Global Medical REIT Inc. (NYSE:GMRE)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $10.15, but opened at $10.36. Global Medical REIT shares last traded at $10.19, with a volume of 20,854 shares.

Global Medical REIT Price Performance

The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. The firm has a market cap of $671.62 million, a price-to-earnings ratio of 44.13, a P/E/G ratio of 1.39 and a beta of 1.24. The company has a 50 day moving average of $9.39 and a 200 day moving average of $8.97.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The business had revenue of $34.24 million for the quarter, compared to the consensus estimate of $35.24 million. During the same quarter last year, the firm earned $0.23 EPS. Equities research analysts predict that Global Medical REIT Inc. will post 0.85 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.20%. The ex-dividend date is Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors have recently added to or reduced their stakes in GMRE. LSV Asset Management increased its holdings in Global Medical REIT by 114.0% during the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after purchasing an additional 553,408 shares in the last quarter. Bank of New York Mellon Corp raised its position in Global Medical REIT by 78.5% in the 2nd 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. Wellington Management Group LLP bought a new stake in Global Medical REIT in the 4th quarter valued at approximately $3,475,000. Price T Rowe Associates Inc. MD boosted its position in Global Medical REIT by 788.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock worth $1,143,000 after acquiring an additional 115,866 shares during the last quarter. Finally, Sound Income Strategies LLC grew its stake in shares of Global Medical REIT by 10.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock worth $9,407,000 after acquiring an additional 97,630 shares in the last quarter. 57.52% of the stock is owned by institutional investors.

Global Medical REIT Company 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.