1492 Capital Management LLC Grows Holdings in Global Medical REIT Inc. (NYSE:GMRE)

1492 Capital Management LLC increased its stake in Global Medical REIT Inc. (NYSE:GMRE) by 55.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 34,835 shares of the company’s stock after acquiring an additional 12,437 shares during the quarter. 1492 Capital Management LLC’s holdings in Global Medical REIT were worth $269,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GMRE. Franklin Resources Inc. grew its holdings in Global Medical REIT by 228.9% during the 3rd 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. Barclays PLC grew 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 worth $1,527,000 after purchasing an additional 71,704 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Global Medical REIT in the fourth quarter valued at about $1,430,000. New Age Alpha Advisors LLC acquired a new stake in Global Medical REIT during the fourth quarter valued at approximately $263,000. Finally, Aew Capital Management L P bought a new position in Global Medical REIT during the 4th quarter worth approximately $230,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on Global Medical REIT in a research report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price target on the stock.

Global Medical REIT Price Performance

Shares of NYSE:GMRE opened at $7.47 on Friday. The company has a market cap of $499.19 million, a PE ratio of -373.06, a P/E/G ratio of 1.43 and a beta of 1.12. Global Medical REIT Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $10.46. The firm has a 50-day simple moving average of $8.26 and a 200 day simple moving average of $8.44. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.01 by $0.21. The company had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. On average, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 11.25%. The ex-dividend date of this dividend was Friday, March 21st. Global Medical REIT’s dividend payout ratio is presently 8,400.00%.

Global Medical REIT Profile

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.