Global Medical REIT Inc (GMRE) Stake Decreased by Oppenheimer & Co. Inc.
Oppenheimer & Co. Inc. cut its holdings in shares of Global Medical REIT Inc (NASDAQ:GMRE) by 18.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,628 shares of the company’s stock after selling 45,267 shares during the period. Oppenheimer & Co. Inc.’s holdings in Global Medical REIT were worth $1,803,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. UBS Group AG grew its stake in Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock worth $108,000 after purchasing an additional 1,477 shares in the last quarter. Wedbush Securities Inc. grew its stake in Global Medical REIT by 6.2% in the first quarter. Wedbush Securities Inc. now owns 14,500 shares of the company’s stock worth $132,000 after purchasing an additional 849 shares in the last quarter. Spirit of America Management Corp NY grew its stake in Global Medical REIT by 50.0% in the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock worth $134,000 after purchasing an additional 5,000 shares in the last quarter. Citadel Advisors LLC acquired a new position in Global Medical REIT in the first quarter worth about $137,000. Finally, Rhumbline Advisers grew its stake in Global Medical REIT by 47.6% in the second quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after purchasing an additional 5,710 shares in the last quarter.
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Global Medical REIT Inc (GMRE) opened at 8.94 on Thursday. The firm has a 50-day moving average of $8.97 and a 200-day moving average of $9.06. Global Medical REIT Inc has a one year low of $6.73 and a one year high of $10.64.
Global Medical REIT (NASDAQ:GMRE) last posted its earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.17. The business had revenue of $7.42 million during the quarter, compared to the consensus estimate of $6.16 million. Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%. Analysts anticipate that Global Medical REIT Inc will post ($0.12) earnings per share for the current fiscal year.
A number of equities analysts recently commented on GMRE shares. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, July 12th. TheStreet upgraded Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. DA Davidson downgraded Global Medical REIT from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 22nd. FBR & Co reiterated an “outperform” rating and issued a $10.00 price target on shares of Global Medical REIT in a research note on Tuesday, July 11th. Finally, Cantor Fitzgerald started coverage on Global Medical REIT in a research note on Friday, September 1st. They issued an “overweight” rating and a $12.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $10.50.
In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average price of $9.00 per share, with a total value of $99,900.00. Following the completion of the purchase, the chairman now directly owns 20,110 shares in the company, valued at approximately $180,990. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Global Medical REIT Company Profile
Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.
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