Cascade Investment Group Inc. Has $347,000 Stake in Global Medical REIT Inc. (NYSE:GMRE)

Cascade Investment Group Inc. lessened its position in Global Medical REIT Inc. (NYSE:GMRE) by 10.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,885 shares of the company’s stock after selling 5,146 shares during the quarter. Cascade Investment Group Inc.’s holdings in Global Medical REIT were worth $347,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. JPMorgan Chase & Co. raised its position in shares of Global Medical REIT by 54.3% during the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock valued at $2,298,000 after buying an additional 81,596 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Global Medical REIT by 228.9% in the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock valued at $1,073,000 after purchasing an additional 80,030 shares in the last quarter. Barclays PLC boosted its position 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 buying an additional 71,704 shares in the last quarter. First Dallas Securities Inc. grew its position in Global Medical REIT by 28.0% during the 3rd quarter. First Dallas Securities Inc. now owns 45,750 shares of the company’s stock worth $453,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Global Medical REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company’s stock worth $16,078,000 after purchasing an additional 18,209 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $7.97 on Monday. The firm has a fifty day moving average of $8.26 and a two-hundred day moving average of $9.00. The stock has a market capitalization of $532.66 million, a price-to-earnings ratio of -398.50, a PEG ratio of 1.22 and a beta of 1.23. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a 52 week low of $7.33 and a 52 week high of $10.58.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The firm had revenue of $34.26 million during the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period in the previous year, the company posted $0.23 EPS. As a group, equities research analysts predict that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The business 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 was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.53%. Global Medical REIT’s dividend payout ratio is currently -4,197.90%.

Analysts Set New Price Targets

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