Hodges Capital Management Inc. cut its stake in Global Medical REIT Inc (NASDAQ:GMRE) by 31.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 48,750 shares of the company’s stock after selling 22,100 shares during the period. Hodges Capital Management Inc.’s holdings in Global Medical REIT were worth $436,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in shares of Global Medical REIT by 105.7% in the fourth quarter. State Street Corp now owns 222,290 shares of the company’s stock valued at $1,983,000 after buying an additional 114,242 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Global Medical REIT by 37.5% in the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock valued at $197,000 after buying an additional 6,018 shares in the last quarter. Dubuque Bank & Trust Co. boosted its stake in shares of Global Medical REIT by 10.3% in the first quarter. Dubuque Bank & Trust Co. now owns 161,447 shares of the company’s stock valued at $1,466,000 after buying an additional 15,059 shares in the last quarter. Goodwin Daniel L boosted its stake in shares of Global Medical REIT by 19.3% in the first quarter. Goodwin Daniel L now owns 61,754 shares of the company’s stock valued at $560,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Global Medical REIT by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 126,355 shares of the company’s stock valued at $1,147,000 after buying an additional 937 shares in the last quarter.

Shares of Global Medical REIT Inc (GMRE) opened at 8.93 on Thursday. Global Medical REIT Inc has a 12 month low of $6.73 and a 12 month high of $11.24. The firm’s 50-day moving average is $9.19 and its 200-day moving average is $9.04.

Global Medical REIT (NASDAQ:GMRE) last issued its earnings results on Thursday, May 11th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by $0.24. The business had revenue of $4.66 million during the quarter, compared to analysts’ expectations of $5.32 million. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. Analysts predict that Global Medical REIT Inc will post ($0.09) earnings per share for the current fiscal year.

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Several analysts recently weighed in on GMRE shares. Zacks Investment Research raised shares of Global Medical REIT from a “sell” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Wednesday, May 10th. FBR & Co reissued an “outperform” rating and issued a $10.00 price objective on shares of Global Medical REIT in a research note on Tuesday, July 11th. Finally, TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a research report on Monday, July 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $10.67.

In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The shares were bought at an average price of $9.00 per share, for a total transaction of $99,900.00. Following the transaction, the chairman now directly owns 20,110 shares in the company, valued at $180,990. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

About Global Medical REIT

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

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Institutional Ownership by Quarter for Global Medical REIT (NASDAQ:GMRE)

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