Phocas Financial Corp. Decreases Stake in Global Medical REIT Inc. (NYSE:GMRE)

Phocas Financial Corp. reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 6.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 627,690 shares of the company’s stock after selling 41,870 shares during the quarter. Phocas Financial Corp. owned 0.96% of Global Medical REIT worth $6,220,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. BNP Paribas Financial Markets lifted its stake in shares of Global Medical REIT by 108.2% during the first quarter. BNP Paribas Financial Markets now owns 36,209 shares of the company’s stock worth $317,000 after purchasing an additional 18,815 shares in the last quarter. Vanguard Group Inc. grew its position in Global Medical REIT by 1.2% in the first quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock valued at $54,367,000 after acquiring an additional 76,267 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in shares of Global Medical REIT by 2.2% during the first quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after purchasing an additional 1,592 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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 valued at $1,143,000 after purchasing an additional 115,866 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its stake in Global Medical REIT by 31.0% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 85,170 shares of the company’s stock worth $782,000 after buying an additional 20,153 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Price Performance

NYSE:GMRE opened at $8.58 on Tuesday. The stock has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $9.23. Global Medical REIT Inc. has a one year low of $7.98 and a one year high of $11.59. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $34.88 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Sell-side analysts forecast that Global Medical REIT Inc. will post 0.83 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 20th. This represents a $0.84 annualized dividend and a yield of 9.80%. Global Medical REIT’s dividend payout ratio (DPR) is -4,197.90%.

Analysts Set New Price Targets

GMRE has been the subject of several recent analyst reports. Alliance Global Partners assumed coverage on Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company. Berenberg Bank initiated 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 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.