Victory Capital Management Inc. Purchases 6,689 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Victory Capital Management Inc. increased its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 5.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 138,222 shares of the company’s stock after buying an additional 6,689 shares during the quarter. Victory Capital Management Inc.’s holdings in Global Medical REIT were worth $1,370,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gordian Capital Singapore Pte Ltd acquired a new position in Global Medical REIT during the 2nd quarter worth approximately $100,000. Versor Investments LP acquired a new position in Global Medical REIT during the third quarter worth $189,000. M&G PLC acquired a new position in Global Medical REIT during the third quarter worth $193,000. First Trust Direct Indexing L.P. grew its position in Global Medical REIT by 25.6% in the third quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock valued at $202,000 after purchasing an additional 4,164 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in Global Medical REIT by 900.1% in the 3rd quarter. International Assets Investment Management LLC now owns 21,313 shares of the company’s stock valued at $2,151,000 after buying an additional 19,182 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GMRE. Berenberg Bank started 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 objective for the company. Alliance Global Partners began coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

Global Medical REIT Stock Performance

Shares of GMRE opened at $8.86 on Tuesday. The company has a market cap of $591.85 million, a PE ratio of -442.78, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The firm has a 50-day moving average of $9.32 and a 200-day moving average of $9.24. Global Medical REIT Inc. has a one year low of $7.98 and a one year high of $11.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The business had revenue of $34.26 million for the quarter, compared to analyst estimates of $34.88 million. During the same period last year, the firm earned $0.23 EPS. As a group, equities analysts forecast that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 9.48%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio is -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.