Global Medical REIT Inc. $GMRE Shares Sold by AlphaQuest LLC

AlphaQuest LLC trimmed its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 80.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,164 shares of the company’s stock after selling 34,611 shares during the quarter. AlphaQuest LLC’s holdings in Global Medical REIT were worth $275,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Samalin Investment Counsel LLC acquired a new position in Global Medical REIT in the third quarter worth approximately $273,000. New York State Teachers Retirement System acquired a new stake in shares of Global Medical REIT during the 3rd quarter valued at $39,000. Peregrine Capital Management LLC acquired a new position in shares of Global Medical REIT in the 3rd quarter worth $4,785,000. Osaic Holdings Inc. grew its holdings in shares of Global Medical REIT by 61.5% in the 2nd quarter. Osaic Holdings Inc. now owns 57,283 shares of the company’s stock worth $401,000 after acquiring an additional 21,810 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Global Medical REIT during the second quarter worth $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Citigroup upgraded shares of Global Medical REIT to an “outperform” rating in a report on Monday, October 13th. Citizens Jmp raised shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price objective for the company in a research note on Monday, October 13th. Robert W. Baird lowered 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. Finally, JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the company a “market outperform” rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT Stock Down 0.6%

GMRE opened at $36.41 on Tuesday. The firm has a market cap of $488.19 million, a P/E ratio of -145.62 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. The business has a 50 day moving average price of $34.72 and a 200 day moving average price of $34.16. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $45.75.

Global Medical REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Friday, December 19th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s payout ratio is currently -1,200.00%.

Insider Buying and Selling

In related news, CEO Mark Okey Decker, Jr. acquired 10,000 shares of the stock in a transaction dated Friday, November 14th. The shares were acquired at an average price of $32.58 per share, for a total transaction of $325,800.00. Following the completion of the purchase, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. The trade was a 28.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 8.50% of the stock is currently owned by corporate insiders.

About Global Medical REIT

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.