Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 43.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 110,858 shares of the company’s stock after selling 84,033 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Global Medical REIT were worth $1,099,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GMRE. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Global Medical REIT in the second quarter valued at about $100,000. Versor Investments LP purchased a new position in Global Medical REIT in the third quarter valued at about $189,000. M&G PLC acquired a new stake in shares of Global Medical REIT during the 3rd quarter valued at approximately $193,000. First Trust Direct Indexing L.P. boosted its stake in shares of Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company’s stock worth $202,000 after acquiring an additional 4,164 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Global Medical REIT by 90.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock worth $225,000 after acquiring an additional 10,759 shares in the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GMRE shares. Berenberg Bank assumed coverage on Global Medical REIT in a report on Friday, October 18th. They set a “buy” rating and a $11.75 price objective for the company. Alliance Global Partners assumed 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 Trading Up 0.3 %

Shares of Global Medical REIT stock opened at $8.89 on Monday. Global Medical REIT Inc. has a 1 year low of $7.98 and a 1 year high of $11.59. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50 day moving average price of $9.22 and a 200 day moving average price of $9.24. The company has a market capitalization of $593.85 million, a P/E ratio of -444.28, a P/E/G ratio of 1.53 and a beta of 1.25.

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

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Friday, September 20th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.45%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s dividend payout ratio is presently -4,197.90%.

Global Medical REIT Profile

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.