Nisa Investment Advisors LLC Reduces Position in Global Medical REIT Inc. (NYSE:GMRE)

Nisa Investment Advisors LLC lowered its stake in Global Medical REIT Inc. (NYSE:GMRE) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,392 shares of the company’s stock after selling 3,890 shares during the period. Nisa Investment Advisors LLC’s holdings in Global Medical REIT were worth $330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Global Medical REIT by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock worth $54,367,000 after acquiring an additional 76,267 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Global Medical REIT by 78.5% in the second quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock worth $10,746,000 after purchasing an additional 520,583 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Global Medical REIT by 114.0% during the first quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after purchasing an additional 553,408 shares during the period. Dimensional Fund Advisors LP boosted its position in Global Medical REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after buying an additional 6,676 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Global Medical REIT by 8.6% in the 2nd quarter. D.A. Davidson & CO. now owns 437,470 shares of the company’s stock worth $3,972,000 after buying an additional 34,582 shares during the period. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GMRE has been the subject of several research reports. Berenberg Bank began coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 price objective for the company. Alliance Global Partners assumed coverage on shares of Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price for the company.

Global Medical REIT Stock Up 1.3 %

Global Medical REIT stock opened at $9.22 on Wednesday. The business’s 50-day moving average price is $9.48 and its 200 day moving average price is $9.19. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20. The firm has a market cap of $604.72 million, a price-to-earnings ratio of 153.67, a price-to-earnings-growth ratio of 1.33 and a beta of 1.25. Global Medical REIT Inc. has a 52 week low of $7.98 and a 52 week high of $11.59.

Global Medical REIT (NYSE:GMRE) last posted its earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). The firm had revenue of $34.24 million for the quarter, compared to analysts’ expectations of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same period last year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

The company also recently announced 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. This represents a $0.84 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Friday, September 20th. Global Medical REIT’s payout ratio is currently 1,400.00%.

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.