D.A. Davidson & CO. Acquires 4,202 Shares of Global Medical REIT Inc. (NYSE:GMRE)

D.A. Davidson & CO. boosted its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 441,672 shares of the company’s stock after purchasing an additional 4,202 shares during the quarter. D.A. Davidson & CO. owned about 0.66% of Global Medical REIT worth $4,377,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Global Medical REIT in the 2nd quarter worth approximately $100,000. Intech Investment Management LLC bought a new stake in shares of Global Medical REIT in the 3rd quarter worth approximately $150,000. Versor Investments LP bought a new stake in shares of Global Medical REIT in the 3rd quarter worth approximately $189,000. M&G PLC bought a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $193,000. Finally, First Trust Direct Indexing L.P. lifted its position in shares of Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock worth $202,000 after buying an additional 4,164 shares during the period. Institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on GMRE. Alliance Global Partners began coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company. Berenberg Bank began coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 target price for the company.

Global Medical REIT Trading Up 0.7 %

GMRE stock opened at $8.86 on Friday. The business has a fifty day moving average price of $9.24 and a 200 day moving average price of $9.23. Global Medical REIT Inc. has a fifty-two week low of $7.98 and a fifty-two week high of $11.59. The stock has a market capitalization of $591.85 million, a price-to-earnings ratio of -442.78, a P/E/G ratio of 1.52 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28.

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

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 annualized dividend and a dividend yield of 9.48%. Global Medical REIT’s dividend payout ratio (DPR) 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.