Royal Fund Management LLC Sells 65,333 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Royal Fund Management LLC reduced its stake in Global Medical REIT Inc. (NYSE:GMRE) by 44.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 82,831 shares of the company’s stock after selling 65,333 shares during the quarter. Royal Fund Management LLC owned approximately 0.12% of Global Medical REIT worth $640,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Global Medical REIT by 54.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock valued at $2,298,000 after buying an additional 81,596 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Global Medical REIT by 228.9% in the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after buying an additional 80,030 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Global Medical REIT by 71.1% during the second quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock worth $1,715,000 after acquiring an additional 78,528 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Global Medical REIT by 158.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock valued at $1,195,000 after purchasing an additional 73,965 shares during the last quarter. Finally, Barclays PLC grew its holdings in Global Medical REIT by 87.1% during the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares in the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Global Medical REIT Stock Performance

NYSE GMRE opened at $8.05 on Wednesday. The business’s 50 day moving average price is $8.25 and its 200-day moving average price is $8.99. Global Medical REIT Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $10.58. The company has a market cap of $537.41 million, a P/E ratio of -402.05, a P/E/G ratio of 1.36 and a beta of 1.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The firm had revenue of $34.26 million for 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 EPS. Sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.44%. Global Medical REIT’s dividend payout ratio is -4,197.90%.

Wall Street Analyst Weigh In

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

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.