Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by ClearAlpha Technologies LP

ClearAlpha Technologies LP trimmed its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 36.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,069 shares of the company’s stock after selling 9,235 shares during the period. ClearAlpha Technologies LP’s holdings in Global Medical REIT were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GMRE. First Trust Advisors LP acquired a new stake in shares of Global Medical REIT during the fourth quarter worth $346,000. 1492 Capital Management LLC increased its position in Global Medical REIT by 55.5% during the 4th quarter. 1492 Capital Management LLC now owns 34,835 shares of the company’s stock worth $269,000 after purchasing an additional 12,437 shares in the last quarter. Cutler Capital Management LLC raised its holdings in Global Medical REIT by 0.3% in the fourth quarter. Cutler Capital Management LLC now owns 450,279 shares of the company’s stock valued at $3,476,000 after buying an additional 1,376 shares during the period. Raymond James Financial Inc. acquired a new position in Global Medical REIT during the fourth quarter valued at approximately $1,430,000. Finally, Renaissance Technologies LLC grew its stake in Global Medical REIT by 13.0% during the fourth quarter. Renaissance Technologies LLC now owns 366,105 shares of the company’s stock worth $2,826,000 after buying an additional 42,005 shares during the period. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $7.48 on Tuesday. Global Medical REIT Inc. has a twelve month low of $6.75 and a twelve month high of $10.46. The stock has a market capitalization of $500.20 million, a price-to-earnings ratio of -373.81, a PEG ratio of 1.43 and a beta of 1.12. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The business’s 50 day simple moving average is $8.25 and its 200-day simple moving average is $8.39.

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

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 11.23%. The ex-dividend date was Friday, March 21st. Global Medical REIT’s payout ratio is currently 8,400.00%.

Analysts Set New Price Targets

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

Global Medical REIT Company 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.