Penserra Capital Management LLC Acquires 20,460 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Penserra Capital Management LLC grew its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 22.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 109,844 shares of the company’s stock after buying an additional 20,460 shares during the quarter. Penserra Capital Management LLC’s holdings in Global Medical REIT were worth $1,088,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Global Medical REIT by 1.2% in the first quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock worth $54,367,000 after purchasing an additional 76,267 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock worth $10,746,000 after buying an additional 520,583 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Global Medical REIT by 0.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock worth $7,927,000 after buying an additional 6,676 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Global Medical REIT by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 853,103 shares of the company’s stock valued at $8,454,000 after buying an additional 41,172 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its position in Global Medical REIT by 8.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 637,751 shares of the company’s stock valued at $6,320,000 after acquiring an additional 47,500 shares during the period. 57.52% of the stock is owned by institutional investors.

Global Medical REIT Trading Down 0.7 %

Shares of GMRE opened at $8.80 on Wednesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $587.87 million, a price-to-earnings ratio of -440.00, a PEG ratio of 1.50 and a beta of 1.25. The stock has a fifty day moving average price of $9.29 and a two-hundred day moving average price of $9.24. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59.

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

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 9.55%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -4,200.00%.

Wall Street Analysts Forecast Growth

GMRE has been the subject of a number of analyst reports. Berenberg Bank assumed coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective for the company. Alliance Global Partners initiated coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

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.