Cascade Investment Group Inc. Has $496,000 Stake in Global Medical REIT Inc. (NYSE:GMRE)

Cascade Investment Group Inc. decreased its stake in Global Medical REIT Inc. (NYSE:GMRE) by 2.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,031 shares of the company’s stock after selling 1,296 shares during the quarter. Cascade Investment Group Inc. owned approximately 0.08% of Global Medical REIT worth $496,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. LSV Asset Management grew its holdings in shares of Global Medical REIT by 114.0% during the first quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after purchasing an additional 553,408 shares during the last quarter. Wellington Management Group LLP bought a new position in Global Medical REIT in the fourth quarter valued at about $3,475,000. Price T Rowe Associates Inc. MD boosted its holdings in Global Medical REIT by 788.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after acquiring an additional 115,866 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Global Medical REIT by 1.2% in the first quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock valued at $54,367,000 after acquiring an additional 76,267 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its holdings in Global Medical REIT by 10.0% in the first quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after acquiring an additional 97,630 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners began coverage on Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Trading Up 1.4 %

NYSE:GMRE opened at $9.46 on Wednesday. Global Medical REIT Inc. has a 1-year low of $7.98 and a 1-year high of $11.59. The business’s 50-day moving average price is $9.44 and its two-hundred day moving average price is $9.09. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $620.46 million, a price-to-earnings ratio of 41.13, a PEG ratio of 1.37 and a beta of 1.25.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The company had revenue of $34.24 million during the quarter, compared to analyst estimates of $35.24 million. During the same period in the previous year, the company posted $0.23 EPS. On average, equities analysts expect that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The firm also recently declared 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s dividend payout ratio is currently 365.22%.

About Global Medical REIT

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.