Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Rises By 8.6%

Global Medical REIT Inc. (NYSE:GMRE) was the target of a large growth in short interest in January. As of January 15th, there was short interest totalling 1,140,000 shares, a growth of 8.6% from the December 31st total of 1,050,000 shares. Based on an average daily trading volume, of 444,500 shares, the short-interest ratio is presently 2.6 days.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors have recently bought and sold shares of the business. Redmond Asset Management LLC grew its holdings in Global Medical REIT by 2.5% in the fourth quarter. Redmond Asset Management LLC now owns 243,447 shares of the company’s stock worth $1,879,000 after purchasing an additional 5,929 shares during the last quarter. New York State Common Retirement Fund lifted its position in Global Medical REIT by 3.2% during the fourth quarter. New York State Common Retirement Fund now owns 94,158 shares of the company’s stock valued at $727,000 after purchasing an additional 2,900 shares during the period. D.A. Davidson & CO. raised its position in shares of Global Medical REIT by 3.2% in the fourth quarter. D.A. Davidson & CO. now owns 455,661 shares of the company’s stock worth $3,518,000 after acquiring an additional 13,989 shares during the period. Rhumbline Advisers raised its position in shares of Global Medical REIT by 2.6% in the fourth quarter. Rhumbline Advisers now owns 108,862 shares of the company’s stock worth $840,000 after acquiring an additional 2,731 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $179,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Berenberg Bank assumed coverage on Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Stock Performance

Shares of NYSE GMRE opened at $7.88 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT has a 1 year low of $7.33 and a 1 year high of $10.46. The firm has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $8.91.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. During the same period in the previous year, the business earned $0.23 EPS. As a group, research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently declared 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. This represents a $0.84 annualized dividend and a dividend yield of 10.67%. The ex-dividend date was Friday, December 20th. Global Medical REIT’s dividend payout ratio is presently -4,197.90%.

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.