Connors Investor Services Inc. Has $2.65 Million Position in Global Medical REIT Inc. (NYSE:GMRE)

Connors Investor Services Inc. reduced its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 6.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 302,382 shares of the company’s stock after selling 19,266 shares during the quarter. Connors Investor Services Inc.’s holdings in Global Medical REIT were worth $2,646,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in GMRE. AJOVista LLC acquired a new stake in shares of Global Medical REIT during the fourth quarter worth approximately $54,000. Quadrant Capital Group LLC lifted its stake in Global Medical REIT by 41.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after acquiring an additional 1,666 shares during the last quarter. Creekmur Asset Management LLC acquired a new stake in Global Medical REIT in the fourth quarter valued at approximately $92,000. New York Life Investment Management LLC acquired a new stake in Global Medical REIT in the fourth quarter valued at approximately $115,000. Finally, M&G Plc acquired a new stake in Global Medical REIT in the first quarter valued at approximately $141,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, B. Riley reduced their target price on shares of Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, May 13th.

Global Medical REIT Stock Down 1.5 %

NYSE GMRE traded down $0.14 during trading on Friday, reaching $9.49. The company’s stock had a trading volume of 244,448 shares, compared to its average volume of 362,482. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.14. The stock has a market capitalization of $622.45 million, a PE ratio of 41.26, a PEG ratio of 1.37 and a beta of 1.23. The business has a 50-day moving average price of $9.08 and a 200-day moving average price of $9.14. Global Medical REIT Inc. has a 1-year low of $7.98 and a 1-year high of $11.59.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 9th. Shareholders of record on Friday, June 21st were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 8.85%. The ex-dividend date was Friday, June 21st. Global Medical REIT’s dividend payout ratio (DPR) is presently 365.22%.

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.