State of New Jersey Common Pension Fund D Acquires 47,500 Shares of Global Medical REIT Inc. (NYSE:GMRE)

State of New Jersey Common Pension Fund D grew its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 8.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 637,751 shares of the company’s stock after acquiring an additional 47,500 shares during the period. State of New Jersey Common Pension Fund D owned about 0.97% of Global Medical REIT worth $6,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd bought a new position in shares of Global Medical REIT in the second quarter worth about $100,000. M&G Plc bought a new position in Global Medical REIT in the 1st quarter worth approximately $141,000. M&G PLC purchased a new stake in Global Medical REIT during the 3rd quarter valued at approximately $193,000. First Trust Direct Indexing L.P. raised its position in shares of Global Medical REIT by 25.6% during the third quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock valued at $202,000 after buying an additional 4,164 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Global Medical REIT by 90.1% in the third quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock worth $225,000 after buying an additional 10,759 shares in the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Global Medical REIT Stock Down 0.8 %

NYSE GMRE opened at $8.89 on Tuesday. The firm has a market capitalization of $583.10 million, a price-to-earnings ratio of -447.78, a PEG ratio of 1.33 and a beta of 1.25. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59. The company has a fifty day moving average of $9.47 and a two-hundred day moving average of $9.21. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.85% and a net margin of 3.23%. The business had revenue of $34.26 million during the quarter, compared to analysts’ expectations of $34.88 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, analysts predict that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 9.45%. Global Medical REIT’s dividend payout ratio is currently -4,197.90%.

Analyst Ratings Changes

A number of research firms recently commented on GMRE. Berenberg Bank assumed coverage on Global Medical REIT in a research report on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners started coverage on shares of Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price objective for the company.

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.