ExodusPoint Capital Management LP Sells 69,973 Shares of Global Medical REIT Inc. (NYSE:GMRE)

ExodusPoint Capital Management LP reduced its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 48.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,537 shares of the company’s stock after selling 69,973 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.11% of Global Medical REIT worth $583,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its position in shares of Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after acquiring an additional 2,301 shares during the period. KLP Kapitalforvaltning AS bought a new position in Global Medical REIT in the fourth quarter worth approximately $91,000. Commonwealth Equity Services LLC increased its holdings in Global Medical REIT by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock worth $98,000 after purchasing an additional 1,819 shares during the period. Caisse Des Depots ET Consignations bought a new stake in Global Medical REIT during the 4th quarter valued at $100,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of Global Medical REIT in the 3rd quarter worth $138,000. 57.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Global Medical REIT Price Performance

NYSE GMRE opened at $6.98 on Friday. The firm’s fifty day simple moving average is $8.31 and its two-hundred day simple moving average is $8.50. The firm has a market capitalization of $466.43 million, a P/E ratio of -348.58, a P/E/G 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. Global Medical REIT Inc. has a 12-month low of $6.75 and a 12-month high of $10.46.

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

Global Medical REIT Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 12.04%. Global Medical REIT’s dividend payout ratio (DPR) is currently 8,400.00%.

Global Medical REIT 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.