The Manufacturers Life Insurance Company Lowers Position in Global Medical REIT Inc. (NYSE:GMRE)

The Manufacturers Life Insurance Company cut its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 4.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,560 shares of the company’s stock after selling 1,076 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Global Medical REIT were worth $335,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in shares of Global Medical REIT by 1.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 102,187 shares of the company’s stock worth $1,340,000 after buying an additional 1,322 shares during the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of Global Medical REIT by 23.5% in the first quarter. State of New Jersey Common Pension Fund D now owns 902,410 shares of the company’s stock worth $11,831,000 after acquiring an additional 171,567 shares during the period. Wedbush Securities Inc. bought a new stake in shares of Global Medical REIT in the first quarter worth $212,000. Sound Income Strategies LLC grew its holdings in shares of Global Medical REIT by 249.9% in the first quarter. Sound Income Strategies LLC now owns 107,930 shares of the company’s stock worth $1,415,000 after acquiring an additional 77,086 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in shares of Global Medical REIT by 36.5% in the first quarter. State of Alaska Department of Revenue now owns 16,969 shares of the company’s stock worth $222,000 after acquiring an additional 4,541 shares during the period. Hedge funds and other institutional investors own 66.96% of the company’s stock.

Several analysts recently commented on the company. BMO Capital Markets assumed coverage on Global Medical REIT in a report on Friday, April 16th. They issued an “outperform” rating and a $16.00 price objective for the company. TheStreet raised Global Medical REIT from a “c” rating to a “b-” rating in a report on Friday, May 7th. Finally, Zacks Investment Research raised Global Medical REIT from a “sell” rating to a “hold” rating in a report on Tuesday, May 25th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.75.

NYSE:GMRE opened at $15.73 on Friday. The firm’s 50-day moving average is $14.27. Global Medical REIT Inc. has a 52-week low of $10.01 and a 52-week high of $15.81. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $956.29 million, a price-to-earnings ratio of -92.52 and a beta of 0.74.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, May 5th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.19). Global Medical REIT had a negative net margin of 3.67% and a negative return on equity of 0.89%. On average, equities analysts anticipate that Global Medical REIT Inc. will post 0.92 earnings per share for the current year.

Global Medical REIT Company Profile

Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.

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

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