Global Medical REIT Inc. (NYSE:GMRE) Sees Significant Increase in Short Interest

Global Medical REIT Inc. (NYSE:GMRE) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 1,320,000 shares, an increase of 7.3% from the March 31st total of 1,230,000 shares. Based on an average daily volume of 399,800 shares, the days-to-cover ratio is presently 3.3 days.

Global Medical REIT Trading Up 0.1 %

Shares of NYSE:GMRE opened at $8.12 on Thursday. The company has a 50 day moving average of $8.60 and a 200-day moving average of $9.51. The firm has a market cap of $532.43 million, a P/E ratio of 35.30 and a beta of 1.13. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.11.

Global Medical REIT Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Friday, March 22nd were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date was Thursday, March 21st. Global Medical REIT’s dividend payout ratio is currently 365.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th.

Institutional Trading of Global Medical REIT

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in shares of Global Medical REIT in the 3rd quarter worth approximately $241,000. Commonwealth Equity Services LLC raised its holdings in shares of Global Medical REIT by 11.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 21,684 shares of the company’s stock worth $195,000 after purchasing an additional 2,260 shares in the last quarter. Redmond Asset Management LLC raised its holdings in shares of Global Medical REIT by 13.4% in the 3rd quarter. Redmond Asset Management LLC now owns 180,139 shares of the company’s stock worth $1,616,000 after purchasing an additional 21,306 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Global Medical REIT by 27.0% in the 3rd quarter. Brown Advisory Inc. now owns 1,423,088 shares of the company’s stock worth $12,765,000 after purchasing an additional 302,326 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Global Medical REIT by 4.8% in the 3rd quarter. Victory Capital Management Inc. now owns 127,000 shares of the company’s stock worth $1,139,000 after purchasing an additional 5,800 shares in the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

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.