Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Drops By 13.3%

Global Medical REIT Inc. (NYSE:GMRE) was the target of a large decrease in short interest in November. As of November 15th, there was short interest totalling 1,040,000 shares, a decrease of 13.3% from the October 31st total of 1,200,000 shares. Based on an average daily trading volume, of 397,400 shares, the days-to-cover ratio is presently 2.6 days.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its stake in Global Medical REIT by 5.8% during the 1st quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after buying an additional 1,504 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in Global Medical REIT by 2.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock worth $652,000 after acquiring an additional 1,592 shares in the last quarter. Zacks Investment Management grew its stake in shares of Global Medical REIT by 12.9% during the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after acquiring an additional 1,696 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Global Medical REIT by 7.2% during the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after acquiring an additional 2,033 shares in the last quarter. Finally, Creative Planning raised its position in shares of Global Medical REIT by 13.3% in the 3rd quarter. Creative Planning now owns 22,980 shares of the company’s stock valued at $228,000 after purchasing an additional 2,702 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Trading Up 0.3 %

Shares of NYSE GMRE opened at $8.89 on Friday. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The business has a fifty day moving average price of $9.22 and a 200 day moving average price of $9.24. The stock has a market capitalization of $593.85 million, a P/E ratio of -444.28, a price-to-earnings-growth ratio of 1.53 and a beta of 1.25. 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 (NYSE:GMRE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $34.26 million for the quarter, compared to analysts’ expectations of $34.88 million. During the same period in the previous year, the company posted $0.23 earnings per share. Equities research analysts expect that Global Medical REIT will post 0.83 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 annualized dividend and a yield of 9.45%. Global Medical REIT’s dividend payout ratio (DPR) is -4,197.90%.

Wall Street Analysts Forecast Growth

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

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.