Oppenheimer & Co. Inc. Has $190,000 Position in Global Medical REIT Inc. (NYSE:GMRE)

Oppenheimer & Co. Inc. reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 23.6% in the third quarter, HoldingsChannel.com reports. The fund owned 19,184 shares of the company’s stock after selling 5,921 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Global Medical REIT were worth $190,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Global Medical REIT in the 2nd quarter valued at about $100,000. Versor Investments LP acquired a new stake in shares of Global Medical REIT in the 3rd quarter valued at about $189,000. M&G PLC acquired a new stake in shares of Global Medical REIT in the 3rd quarter valued at about $193,000. First Trust Direct Indexing L.P. grew its stake in shares of Global Medical REIT by 25.6% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock valued at $202,000 after buying an additional 4,164 shares during the period. Finally, International Assets Investment Management LLC grew its stake in shares of Global Medical REIT by 900.1% in the 3rd quarter. International Assets Investment Management LLC now owns 21,313 shares of the company’s stock valued at $2,151,000 after buying an additional 19,182 shares during the period. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GMRE. Berenberg Bank began coverage on Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 price target for the company. Alliance Global Partners began coverage on Global Medical REIT in a research note on Thursday, September 19th. They set a “buy” rating and a $12.00 price target for the company.

Global Medical REIT Price Performance

GMRE stock opened at $8.70 on Friday. The company has a market capitalization of $581.16 million, a P/E ratio of -434.78, a price-to-earnings-growth ratio of 1.50 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59. The business has a 50-day simple moving average of $9.34 and a two-hundred day simple moving average of $9.23.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The company had revenue of $34.26 million for the quarter, compared to analyst estimates of $34.88 million. During the same quarter last year, the firm posted $0.23 EPS. Research analysts expect that Global Medical REIT Inc. will post 0.83 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.66%. Global Medical REIT’s payout ratio is presently -4,197.90%.

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.