Duncan Williams Asset Management LLC Decreases Stock Position in Global Medical REIT Inc. (NYSE:GMRE)

Duncan Williams Asset Management LLC decreased its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,958 shares of the company’s stock after selling 3,352 shares during the quarter. Duncan Williams Asset Management LLC owned approximately 0.08% of Global Medical REIT worth $393,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Global Medical REIT during the second quarter worth $100,000. Quantinno Capital Management LP acquired a new position in shares of Global Medical REIT during the 3rd quarter worth about $138,000. Zacks Investment Management increased its holdings in shares of Global Medical REIT by 12.9% in the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after acquiring an additional 1,696 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Global Medical REIT during the 3rd quarter worth about $150,000. Finally, Versor Investments LP acquired a new stake in shares of Global Medical REIT during the 3rd quarter worth about $189,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $7.94 on Friday. Global Medical REIT Inc. has a 1 year low of $7.33 and a 1 year high of $10.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $530.08 million, a price-to-earnings ratio of -396.55, a PEG ratio of 1.34 and a beta of 1.23. The stock’s 50-day moving average is $8.18 and its two-hundred day moving average is $8.97.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The firm had revenue of $34.26 million for the quarter, compared to analysts’ expectations of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same quarter in the prior year, the business earned $0.23 EPS. Analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.59%. Global Medical REIT’s dividend payout ratio (DPR) is -4,200.00%.

Analysts Set New Price Targets

Separately, Berenberg Bank assumed coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price target on the stock.

About Global Medical REIT

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.