Beck Capital Management LLC Boosts Stock Position in Global Medical REIT Inc. (NYSE:GMRE)

Beck Capital Management LLC grew its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,714 shares of the company’s stock after purchasing an additional 16,672 shares during the quarter. Beck Capital Management LLC owned approximately 0.26% of Global Medical REIT worth $1,349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its stake in Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after acquiring an additional 2,301 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Global Medical REIT during the fourth quarter valued at $91,000. Commonwealth Equity Services LLC raised its stake in shares of Global Medical REIT by 16.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock valued at $98,000 after buying an additional 1,819 shares during the period. Caisse Des Depots ET Consignations bought a new position in shares of Global Medical REIT during the 4th quarter worth $100,000. Finally, Proficio Capital Partners LLC purchased a new stake in Global Medical REIT in the 4th quarter worth about $178,000. 57.52% of the stock is currently owned by institutional investors.

Global Medical REIT Price Performance

GMRE stock opened at $7.51 on Wednesday. The firm has a 50 day moving average of $8.23 and a 200-day moving average of $8.39. The firm has a market capitalization of $501.87 million, a P/E ratio of -375.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12. Global Medical REIT Inc. has a 12 month low of $6.75 and a 12 month high of $10.46. 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 issued its quarterly earnings data on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 11.19%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT’s dividend payout ratio (DPR) is currently 8,400.00%.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They issued a “neutral” rating and a $9.00 price target on the stock.

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.