Stifel Financial Corp Sells 29,780 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Stifel Financial Corp cut its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 911,572 shares of the company’s stock after selling 29,780 shares during the quarter. Stifel Financial Corp owned approximately 1.36% of Global Medical REIT worth $7,037,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its position in shares of Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after acquiring an additional 2,301 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $91,000. Commonwealth Equity Services LLC increased its position in shares of Global Medical REIT by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock worth $98,000 after acquiring an additional 1,819 shares during the period. Caisse Des Depots ET Consignations purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $100,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $178,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley initiated coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price objective on the stock.

Global Medical REIT Price Performance

Shares of GMRE opened at $7.88 on Tuesday. The company has a market cap of $526.94 million, a price-to-earnings ratio of -393.80, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12. Global Medical REIT Inc. has a twelve month low of $6.75 and a twelve month high of $10.46. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The company has a 50 day moving average of $8.19 and a two-hundred day moving average of $8.34.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The business had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.87 million. As a group, analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a $0.21 dividend. The ex-dividend date was Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.66%. Global Medical REIT’s payout ratio is 8,400.00%.

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.