Strs Ohio Trims Position in Global Medical REIT Inc. $GMRE

Strs Ohio decreased its position in Global Medical REIT Inc. (NYSE:GMRE) by 62.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 161,080 shares of the company’s stock after selling 265,120 shares during the quarter. Strs Ohio’s holdings in Global Medical REIT were worth $5,430,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Peregrine Capital Management LLC purchased a new stake in Global Medical REIT in the 3rd quarter worth approximately $4,785,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Global Medical REIT by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock worth $10,499,000 after purchasing an additional 119,538 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Global Medical REIT by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 60,584 shares of the company’s stock worth $420,000 after purchasing an additional 6,539 shares in the last quarter. AXA S.A. bought a new stake in Global Medical REIT during the second quarter valued at about $1,016,000. Finally, Gamco Investors INC. ET AL purchased a new position in shares of Global Medical REIT in the second quarter valued at about $362,000. 57.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citizens Jmp raised Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research note on Monday, October 13th. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Robert W. Baird reduced their price objective on shares of 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. Citigroup upgraded shares of Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Finally, Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Insider Activity

In other news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the stock in a transaction dated Friday, November 14th. The stock was purchased at an average price of $32.58 per share, for a total transaction of $325,800.00. Following the acquisition, the chief executive officer owned 44,774 shares of the company’s stock, valued at $1,458,736.92. The trade was a 28.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 8.50% of the company’s stock.

Global Medical REIT Stock Down 0.4%

Shares of NYSE GMRE opened at $35.21 on Tuesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $45.75. The firm’s 50-day moving average price is $34.13 and its 200-day moving average price is $34.18. The stock has a market capitalization of $472.17 million, a price-to-earnings ratio of -140.84 and a beta of 1.18.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 EPS for the quarter, topping the consensus estimate of $1.05 by $0.07. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.The company had revenue of $37.23 million during the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. On average, equities research analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were paid a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.00 annualized dividend and a dividend yield of 8.5%. Global Medical REIT’s dividend payout ratio is currently -1,200.00%.

Global Medical REIT Profile

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.