Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Decreases By 13.3%

Global Medical REIT Inc. (NYSE:GMRE) was the target of a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 1,040,000 shares, a decrease of 13.3% from the October 31st total of 1,200,000 shares. Based on an average daily trading volume, of 397,400 shares, the short-interest ratio is presently 2.6 days.

Analysts Set New Price Targets

Several research firms recently issued reports on GMRE. Berenberg Bank began coverage on shares of Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price target for the company. Alliance Global Partners began 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.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Global Medical REIT during the 2nd quarter worth approximately $100,000. Quantinno Capital Management LP acquired a new stake in Global Medical REIT during the third quarter worth approximately $138,000. Zacks Investment Management boosted its position in Global Medical REIT by 12.9% during the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after acquiring an additional 1,696 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Global Medical REIT during the third quarter worth approximately $150,000. Finally, Versor Investments LP acquired a new stake in Global Medical REIT during the third quarter worth approximately $189,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Price Performance

Global Medical REIT stock traded down $0.01 during mid-day trading on Tuesday, reaching $8.77. The company had a trading volume of 291,733 shares, compared to its average volume of 382,821. Global Medical REIT has a 1 year low of $7.98 and a 1 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. The company has a market capitalization of $585.84 million, a P/E ratio of -438.28, a P/E/G ratio of 1.53 and a beta of 1.21. The stock’s 50-day simple moving average is $9.20 and its 200-day simple moving average is $9.24.

Global Medical REIT (NYSE:GMRE) last issued its 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 company had revenue of $34.26 million during the quarter, compared to analysts’ expectations of $34.88 million. During the same period last year, the business posted $0.23 earnings per share. On average, equities analysts predict that Global Medical REIT will post 0.83 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were paid a dividend of $0.21 per share. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.58%. Global Medical REIT’s dividend payout ratio (DPR) is -4,197.90%.

Global Medical REIT Company 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.