Global Medical REIT (NYSE:GMRE) Sees Large Volume Increase

Global Medical REIT Inc. (NYSE:GMRE) shares saw unusually-high trading volume on Tuesday . Approximately 761,089 shares changed hands during mid-day trading, an increase of 101% from the previous session’s volume of 379,585 shares.The stock last traded at $10.21 and had previously closed at $10.07.

Global Medical REIT Price Performance

The company has a market capitalization of $665.72 million, a PE ratio of 44.13, a P/E/G ratio of 1.39 and a beta of 1.24. The stock has a 50 day moving average price of $9.36 and a two-hundred day moving average price of $8.96. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. The business had revenue of $34.24 million during the quarter, compared to the consensus estimate of $35.24 million. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities analysts forecast that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.21 per share. The ex-dividend date is Friday, September 20th. This represents a $0.84 annualized dividend and a yield of 8.28%. Global Medical REIT’s dividend payout ratio (DPR) is currently 365.22%.

Institutional Trading of Global Medical REIT

A number of institutional investors and hedge funds have recently made changes to their positions in GMRE. Charles Schwab Investment Management Inc. grew its stake in Global Medical REIT by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 793,196 shares of the company’s stock valued at $8,804,000 after buying an additional 15,115 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Global Medical REIT by 41.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock worth $63,000 after purchasing an additional 1,666 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Global Medical REIT during the 4th quarter worth about $182,000. D.A. Davidson & CO. boosted its stake in Global Medical REIT by 7.0% during the 4th quarter. D.A. Davidson & CO. now owns 346,584 shares of the company’s stock valued at $3,847,000 after purchasing an additional 22,719 shares during the period. Finally, Nomura Asset Management Co. Ltd. grew its holdings in Global Medical REIT by 7.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,800 shares of the company’s stock valued at $775,000 after buying an additional 4,600 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.