Global Medical REIT Inc. (NYSE:GMRE) Sees Significant Decline in Short Interest

Global Medical REIT Inc. (NYSE:GMRE) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 1,040,000 shares, a decline of 13.3% from the October 31st total of 1,200,000 shares. Based on an average daily trading volume, of 397,400 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Tidal Investments LLC raised its position in shares of Global Medical REIT by 5.8% during the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after acquiring an additional 1,504 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Global Medical REIT by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock valued at $652,000 after purchasing an additional 1,592 shares during the last quarter. Zacks Investment Management increased its holdings in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after purchasing an additional 1,696 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Global Medical REIT by 7.2% in the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after purchasing an additional 2,033 shares during the last quarter. Finally, Creative Planning increased its holdings in Global Medical REIT by 13.3% in the third quarter. Creative Planning now owns 22,980 shares of the company’s stock valued at $228,000 after purchasing an additional 2,702 shares during the last quarter. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

Global Medical REIT stock traded down $0.06 on Tuesday, reaching $8.72. The company’s stock had a trading volume of 122,508 shares, compared to its average volume of 382,003. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The business’s fifty day moving average price is $9.20 and its 200 day moving average price is $9.24. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59.

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

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were given a dividend of $0.21 per share. 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 9.63%. Global Medical REIT’s payout ratio is currently -4,197.90%.

Wall Street Analyst Weigh In

GMRE has been the topic of several recent analyst reports. Berenberg Bank initiated coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price target on the stock. Alliance Global Partners assumed coverage on Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

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.