Pacific Ridge Capital Partners LLC Cuts Position in Global Medical REIT Inc. $GMRE

by · The Markets Daily

Pacific Ridge Capital Partners LLC reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE – Free Report) by 80.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 133,547 shares of the company’s stock after selling 547,163 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Global Medical REIT were worth $4,502,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in GMRE. Fifth Third Bancorp purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at $35,000. New York State Teachers Retirement System acquired a new stake in Global Medical REIT in the 3rd quarter valued at $39,000. Tower Research Capital LLC TRC raised its position in Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. Metis Global Partners LLC purchased a new position in Global Medical REIT in the second quarter valued at about $72,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Global Medical REIT during the second quarter worth about $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Down 0.1%

Shares of NYSE GMRE opened at $35.96 on Thursday. Global Medical REIT Inc. has a 1 year low of $29.05 and a 1 year high of $45.75. The firm has a market cap of $482.22 million, a price-to-earnings ratio of -143.84 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50-day simple moving average is $35.19 and its 200-day simple moving average is $34.36.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 19th. This represents a $3.00 annualized dividend and a yield of 8.3%. Global Medical REIT’s payout ratio is currently -1,200.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Robert W. Baird reduced their price target on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Finally, Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Read Our Latest Analysis on GMRE

About Global Medical REIT

(Free Report)

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.

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