Global Medical REIT Inc. (NYSE:GMRE) Sees Significant Growth in Short Interest

Global Medical REIT Inc. (NYSE:GMRE) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,140,000 shares, an increase of 8.6% from the December 15th total of 1,050,000 shares. Based on an average daily volume of 444,500 shares, the short-interest ratio is currently 2.6 days.

Institutional Trading of Global Medical REIT

A number of institutional investors and hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new stake in Global Medical REIT during the 2nd quarter valued at approximately $100,000. Quantinno Capital Management LP bought a new stake in shares of Global Medical REIT in the third quarter valued at approximately $138,000. Zacks Investment Management grew its stake in shares of Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after acquiring an additional 1,696 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Global Medical REIT in the third quarter worth $150,000. Finally, Versor Investments LP bought a new position in Global Medical REIT during the third quarter worth $189,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Berenberg Bank initiated coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price target for the company.

Global Medical REIT Price Performance

Shares of NYSE:GMRE opened at $7.97 on Friday. 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 has a 1 year low of $7.33 and a 1 year high of $10.58. The firm has a fifty day moving average price of $8.26 and a 200 day moving average price of $9.00.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. During the same quarter last year, the company posted $0.23 EPS. On average, equities analysts expect that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.53%. The ex-dividend date was Friday, December 20th. Global Medical REIT’s dividend payout ratio is -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.