Global Medical REIT (NYSE:GMRE) Hits New 52-Week Low at $8.02

Global Medical REIT Inc. (NYSE:GMRE)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $8.02 and last traded at $8.03, with a volume of 67779 shares changing hands. The stock had previously closed at $8.18.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th.

Global Medical REIT Stock Down 0.7 %

The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.11. The firm has a market cap of $532.43 million, a P/E ratio of 35.57 and a beta of 1.12. The firm’s 50 day moving average is $8.94 and its two-hundred day moving average is $9.57.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Friday, March 22nd were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date of this dividend was Thursday, March 21st. Global Medical REIT’s dividend payout ratio is currently 365.22%.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC increased its holdings in Global Medical REIT by 10.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock worth $9,407,000 after purchasing an additional 97,630 shares in the last quarter. Royal Fund Management LLC boosted its position in shares of Global Medical REIT by 6.8% during the first quarter. Royal Fund Management LLC now owns 82,264 shares of the company’s stock worth $720,000 after buying an additional 5,247 shares during the period. BTC Capital Management Inc. bought a new position in shares of Global Medical REIT during the first quarter worth about $143,000. Pensionfund Sabic grew its holdings in shares of Global Medical REIT by 9.3% during the first quarter. Pensionfund Sabic now owns 70,200 shares of the company’s stock worth $614,000 after buying an additional 6,000 shares in the last quarter. Finally, Pensionfund DSM Netherlands raised its position in Global Medical REIT by 10.0% in the 1st quarter. Pensionfund DSM Netherlands now owns 165,000 shares of the company’s stock valued at $1,444,000 after buying an additional 15,000 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.