Polaris Capital Management LLC Cuts Stake in Global Medical REIT Inc. (NYSE:GMRE)

Polaris Capital Management LLC cut its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 47.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 109,200 shares of the company’s stock after selling 96,800 shares during the period. Polaris Capital Management LLC’s holdings in Global Medical REIT were worth $843,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of GMRE. JPMorgan Chase & Co. raised its holdings in Global Medical REIT by 54.3% during the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock worth $2,298,000 after purchasing an additional 81,596 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after acquiring an additional 80,030 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Global Medical REIT by 158.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock worth $1,195,000 after purchasing an additional 73,965 shares in the last quarter. Barclays PLC lifted its stake in Global Medical REIT by 87.1% in the third quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after acquiring an additional 71,704 shares during the last quarter. Finally, FMR LLC increased its position in Global Medical REIT by 39.5% during the third quarter. FMR LLC now owns 184,550 shares of the company’s stock worth $1,829,000 after buying an additional 52,281 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Berenberg Bank initiated coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price target for the company.

Global Medical REIT Price Performance

Shares of GMRE stock opened at $7.85 on Tuesday. Global Medical REIT Inc. has a 12 month low of $7.33 and a 12 month high of $10.46. The stock has a 50-day moving average price of $8.01 and a 200 day moving average price of $8.85. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT Announces Dividend

The firm also recently disclosed 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 dividend yield of 10.71%. Global Medical REIT’s dividend payout ratio is presently -4,197.90%.

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.