ClearAlpha Technologies LP Makes New Investment in Global Medical REIT Inc. (NYSE:GMRE)

ClearAlpha Technologies LP acquired a new stake in Global Medical REIT Inc. (NYSE:GMRE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 25,304 shares of the company’s stock, valued at approximately $251,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd purchased a new stake in Global Medical REIT in the 2nd quarter valued at about $100,000. Intech Investment Management LLC acquired a new stake in shares of Global Medical REIT in the third quarter worth approximately $150,000. Versor Investments LP purchased a new stake in Global Medical REIT in the third quarter valued at approximately $189,000. M&G PLC acquired a new position in Global Medical REIT during the third quarter worth approximately $193,000. Finally, First Trust Direct Indexing L.P. increased its position in 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 worth $202,000 after purchasing an additional 4,164 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Trading Down 1.3 %

NYSE GMRE opened at $8.78 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a one year low of $7.98 and a one year high of $11.59. The company’s 50 day moving average price is $9.20 and its 200 day moving average price is $9.24.

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

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.57%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio is presently -4,197.90%.

Analysts Set New Price Targets

A number of brokerages have weighed in on GMRE. Berenberg Bank started coverage on shares of Global Medical REIT in a report 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 report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

Global Medical REIT 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.