State of Alaska Department of Revenue Trims Stake in Global Medical REIT Inc. $GMRE

State of Alaska Department of Revenue cut its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 77.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,989 shares of the company’s stock after selling 23,887 shares during the period. State of Alaska Department of Revenue’s holdings in Global Medical REIT were worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GMRE. Tower Research Capital LLC TRC raised its holdings in shares of Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after acquiring an additional 3,046 shares in the last quarter. Metis Global Partners LLC bought a new position in Global Medical REIT during the 2nd quarter worth about $72,000. B. Riley Wealth Advisors Inc. purchased a new position in Global Medical REIT during the 2nd quarter valued at about $78,000. EMC Capital Management raised its holdings in shares of Global Medical REIT by 457.0% in the 2nd quarter. EMC Capital Management now owns 12,654 shares of the company’s stock valued at $88,000 after purchasing an additional 10,382 shares in the last quarter. Finally, State of Wyoming lifted its position in shares of Global Medical REIT by 71.3% in the 2nd quarter. State of Wyoming now owns 12,656 shares of the company’s stock worth $88,000 after purchasing an additional 5,266 shares during the period. Institutional investors own 57.52% of the company’s stock.

Insider Buying and Selling

In related news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were bought at an average price of $32.58 per share, with a total value of $325,800.00. Following the transaction, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by company insiders.

Global Medical REIT Stock Down 1.2%

Global Medical REIT stock opened at $35.58 on Friday. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $45.75. The business has a fifty day moving average price of $34.02 and a 200-day moving average price of $34.21. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. The stock has a market capitalization of $477.14 million, a price-to-earnings ratio of -142.32 and a beta of 1.18.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.07. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.The company had revenue of $37.23 million for the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. Equities research analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 8.4%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GMRE. JMP Securities set a $40.00 price objective on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday. Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, October 13th. Finally, Citigroup upgraded Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Global Medical REIT presently has an average rating of “Moderate Buy” and an average target price of $41.50.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.