Royal Fund Management LLC Decreases Stake in Global Medical REIT Inc. (NYSE:GMRE)

Royal Fund Management LLC lessened its stake in Global Medical REIT Inc. (NYSE:GMRE) by 5.1% in the second quarter, HoldingsChannel.com reports. The firm owned 78,098 shares of the company’s stock after selling 4,166 shares during the quarter. Royal Fund Management LLC’s holdings in Global Medical REIT were worth $709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of Global Medical REIT by 1.3% in the 4th quarter. Raymond James & Associates now owns 121,871 shares of the company’s stock worth $1,353,000 after buying an additional 1,606 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Global Medical REIT during the 4th quarter worth approximately $258,000. Allspring Global Investments Holdings LLC raised its position in shares of Global Medical REIT by 35.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 293,223 shares of the company’s stock worth $3,255,000 after purchasing an additional 77,008 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Global Medical REIT by 18.0% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 74,445 shares of the company’s stock valued at $826,000 after buying an additional 11,360 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Global Medical REIT by 19.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,110 shares of the company’s stock valued at $146,000 after buying an additional 2,114 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Trading Down 1.0 %

Shares of NYSE GMRE traded down $0.09 during midday trading on Friday, reaching $9.16. 260,126 shares of the stock were exchanged, compared to its average volume of 381,032. The stock has a 50 day moving average price of $9.22 and a 200-day moving average price of $9.00. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $600.79 million, a P/E ratio of 39.80, a P/E/G ratio of 1.43 and a beta of 1.23. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59.

Global Medical REIT (NYSE:GMRE) last released its 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). Global Medical REIT had a return on equity of 3.54% and a net margin of 13.77%. The firm had revenue of $34.24 million during the quarter, compared to analysts’ expectations of $35.24 million. During the same period in the previous year, the firm posted $0.23 earnings per share. Equities research analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Friday, June 21st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 9.17%. The ex-dividend date was Friday, June 21st. Global Medical REIT’s payout ratio is 365.22%.

Wall Street Analysts Forecast Growth

Separately, B. Riley reduced their price objective on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, May 13th.

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.