Goldman Sachs Group Inc. grew its holdings in Global Medical REIT (NYSE:GMRE) by 378.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 384,657 shares of the company’s stock after acquiring an additional 304,286 shares during the period. Goldman Sachs Group Inc.’s holdings in Global Medical REIT were worth $3,154,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at $115,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at $120,000. Wells Fargo & Company MN raised its stake in shares of Global Medical REIT by 21.9% in the 3rd quarter. Wells Fargo & Company MN now owns 32,681 shares of the company’s stock valued at $294,000 after acquiring an additional 5,862 shares during the period. Asset Management One Co. Ltd. raised its stake in shares of Global Medical REIT by 36,351.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 36,451 shares of the company’s stock valued at $333,000 after acquiring an additional 36,351 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Global Medical REIT in the 4th quarter valued at $421,000. 44.71% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently commented on GMRE. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. TheStreet downgraded shares of Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. Finally, Cantor Fitzgerald began coverage on shares of Global Medical REIT in a report on Wednesday, March 7th. They set a “buy” rating and a $12.00 price target for the company. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $9.70.
GMRE opened at $7.28 on Thursday. The firm has a market cap of $151.41, a P/E ratio of 13.48, a PEG ratio of 1.03 and a beta of 0.46. Global Medical REIT has a twelve month low of $6.34 and a twelve month high of $10.25. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 0.91.
Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, March 7th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.15). The firm had revenue of $9.87 million for the quarter, compared to analyst estimates of $10.33 million. Global Medical REIT had a negative net margin of 5.01% and a negative return on equity of 0.88%. equities analysts forecast that Global Medical REIT will post 0.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 10th. Investors of record on Thursday, March 22nd were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 10.99%. The ex-dividend date of this dividend was Wednesday, March 21st. Global Medical REIT’s payout ratio is 148.15%.
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Global Medical REIT Company Profile
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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