Sound Income Strategies LLC Sells 7,733 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Sound Income Strategies LLC reduced its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 46.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,870 shares of the company’s stock after selling 7,733 shares during the period. Sound Income Strategies LLC’s holdings in Global Medical REIT were worth $88,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management raised its stake in shares of Global Medical REIT by 114.0% in the first quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock valued at $9,088,000 after acquiring an additional 553,408 shares during the last quarter. Wellington Management Group LLP bought a new position in Global Medical REIT in the 4th quarter valued at $3,475,000. Price T Rowe Associates Inc. MD boosted its stake in Global Medical REIT by 788.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock worth $1,143,000 after purchasing an additional 115,866 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Global Medical REIT by 1.2% during the first quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock worth $54,367,000 after purchasing an additional 76,267 shares during the last quarter. Finally, Duncan Williams Asset Management LLC acquired a new stake in shares of Global Medical REIT in the third quarter valued at $538,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

GMRE stock opened at $9.34 on Tuesday. The company has a 50 day moving average price of $9.44 and a 200 day moving average price of $9.09. 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 1.20, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $612.59 million, a PE ratio of 40.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25.

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

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 8.99%. Global Medical REIT’s payout ratio is presently 365.22%.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners assumed coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price objective on the stock.

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.