D.A. Davidson & CO. Has $4.38 Million Stock Position in Global Medical REIT Inc. (NYSE:GMRE)

D.A. Davidson & CO. lifted its stake in Global Medical REIT Inc. (NYSE:GMRE) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 441,672 shares of the company’s stock after purchasing an additional 4,202 shares during the period. D.A. Davidson & CO.’s holdings in Global Medical REIT were worth $4,377,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in shares of Global Medical REIT in the 3rd quarter worth $206,000. Penserra Capital Management LLC boosted its position in shares of Global Medical REIT by 22.9% in the 3rd quarter. Penserra Capital Management LLC now owns 109,844 shares of the company’s stock worth $1,088,000 after purchasing an additional 20,460 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Global Medical REIT by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,103 shares of the company’s stock worth $8,454,000 after purchasing an additional 41,172 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Global Medical REIT in the 3rd quarter worth $150,000. Finally, Victory Capital Management Inc. boosted its position in shares of Global Medical REIT by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 138,222 shares of the company’s stock worth $1,370,000 after purchasing an additional 6,689 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors.

Global Medical REIT Stock Performance

GMRE stock opened at $8.86 on Friday. The business’s 50-day moving average price is $9.24 and its two-hundred day moving average price is $9.23. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The firm has a market cap of $591.85 million, a PE ratio of -442.78, a P/E/G ratio of 1.52 and a beta of 1.25. Global Medical REIT Inc. has a 1-year low of $7.98 and a 1-year high of $11.59.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, research analysts forecast that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.48%. Global Medical REIT’s dividend payout ratio (DPR) is -4,197.90%.

Analysts Set New Price Targets

Several research firms have weighed in on GMRE. Berenberg Bank began coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners began coverage on Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price 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.