AlphaQuest LLC Lowers Stake in Global Medical REIT Inc. $GMRE

AlphaQuest LLC cut its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 80.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,164 shares of the company’s stock after selling 34,611 shares during the quarter. AlphaQuest LLC owned 0.06% of Global Medical REIT worth $275,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System acquired a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC lifted its position in 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 buying an additional 3,046 shares during the last quarter. Samalin Investment Counsel LLC purchased a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $273,000. Metis Global Partners LLC purchased a new position in shares of Global Medical REIT during the second quarter worth $72,000. Finally, Strs Ohio purchased a new stake in Global Medical REIT during the first quarter worth about $95,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the business’s stock in a transaction on Friday, November 14th. The shares were purchased at an average price of $32.58 per share, with a total value of $325,800.00. Following the completion of the acquisition, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. The trade was a 28.76% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 8.50% of the stock is currently owned by corporate insiders.

Global Medical REIT Trading Down 0.6%

NYSE GMRE opened at $36.41 on Tuesday. The company has a market cap of $488.19 million, a P/E ratio of -145.62 and a beta of 1.18. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $45.75. 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 company has a 50-day moving average of $34.72 and a 200-day moving average of $34.16.

Global Medical REIT Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 8.2%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s payout ratio is currently -1,200.00%.

Analyst Ratings Changes

Several analysts recently weighed in on GMRE shares. JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the company a “market outperform” rating in a report on Monday, October 13th. Robert W. Baird decreased their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Citigroup raised shares of Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.