Allspring Global Investments Holdings LLC Has $1.63 Million Stake in Global Medical REIT Inc. (NYSE:GMRE)

Allspring Global Investments Holdings LLC trimmed its position in shares of Global Medical REIT Inc. (NYSE:GMRE – Get Rating) by 52.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 191,614 shares of the company’s stock after selling 213,102 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Global Medical REIT were worth $1,632,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GMRE. JPMorgan Chase & Co. boosted its position in Global Medical REIT by 6.4% during the 1st quarter. JPMorgan Chase & Co. now owns 728,295 shares of the company’s stock worth $11,886,000 after buying an additional 43,687 shares during the period. Raymond James & Associates increased its stake in shares of Global Medical REIT by 12.9% in the 1st quarter. Raymond James & Associates now owns 136,298 shares of the company’s stock valued at $2,224,000 after acquiring an additional 15,528 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Global Medical REIT by 58.8% in the 1st quarter. MetLife Investment Management LLC now owns 29,210 shares of the company’s stock valued at $477,000 after acquiring an additional 10,812 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Global Medical REIT by 6.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,268 shares of the company’s stock valued at $886,000 after acquiring an additional 3,089 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Global Medical REIT by 0.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 755,453 shares of the company’s stock valued at $12,329,000 after purchasing an additional 5,087 shares in the last quarter. 65.08% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Stock Performance

NYSE:GMRE opened at $10.72 on Friday. The firm has a market cap of $702.35 million, a PE ratio of 42.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.02. Global Medical REIT Inc. has a fifty-two week low of $7.01 and a fifty-two week high of $16.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.19 and a current ratio of 0.19. The business has a 50 day moving average price of $9.77 and a 200-day moving average price of $10.03.

Global Medical REIT Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 9th. Shareholders of record on Thursday, December 22nd were issued a $0.21 dividend. The ex-dividend date of this dividend was Wednesday, December 21st. This represents a $0.84 dividend on an annualized basis and a yield of 7.84%. Global Medical REIT’s dividend payout ratio (DPR) is 336.00%.

Analyst Upgrades and Downgrades

A number of analysts have commented on GMRE shares. Robert W. Baird lowered shares of Global Medical REIT from an “outperform” rating to a “neutral” rating in a research note on Monday, October 10th. BMO Capital Markets downgraded shares of Global Medical REIT from an “outperform” rating to a “market perform” rating in a report on Thursday, October 6th. Finally, StockNews.com upgraded Global Medical REIT from a “sell” rating to a “hold” rating in a research note on Friday, November 4th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Global Medical REIT has an average rating of “Hold” and a consensus target price of $16.50.

About Global Medical REIT

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Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.