Phocas Financial Corp. Reduces Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Phocas Financial Corp. lowered its position in Global Medical REIT Inc. (NYSE:GMREFree Report) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 805,622 shares of the company’s stock after selling 10,957 shares during the quarter. Phocas Financial Corp. owned 1.23% of Global Medical REIT worth $7,355,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. GPS Wealth Strategies Group LLC purchased a new position in shares of Global Medical REIT in the first quarter valued at $26,000. Captrust Financial Advisors purchased a new stake in Global Medical REIT during the 2nd quarter worth about $43,000. Tower Research Capital LLC TRC increased its position in Global Medical REIT by 227.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 5,646 shares of the company’s stock worth $48,000 after purchasing an additional 3,920 shares in the last quarter. Point72 Hong Kong Ltd purchased a new stake in Global Medical REIT during the 2nd quarter worth about $55,000. Finally, Russell Investments Group Ltd. purchased a new stake in Global Medical REIT during the 1st quarter worth about $65,000. Hedge funds and other institutional investors own 56.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on GMRE. Compass Point lifted their price objective on Global Medical REIT from $11.00 to $12.50 in a research report on Friday, August 4th. StockNews.com assumed coverage on Global Medical REIT in a research report on Thursday, August 17th. They set a “hold” rating for the company.

Read Our Latest Research Report on Global Medical REIT

Global Medical REIT Trading Up 0.4 %

GMRE traded up $0.04 during midday trading on Tuesday, hitting $9.50. The company’s stock had a trading volume of 88,178 shares, compared to its average volume of 387,245. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.01. The firm has a market cap of $622.92 million, a P/E ratio of 29.56 and a beta of 1.07. The firm has a 50-day moving average price of $9.71 and a two-hundred day moving average price of $9.30. Global Medical REIT Inc. has a 52-week low of $7.01 and a 52-week high of $11.79.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 10th. Stockholders of record on Friday, September 22nd will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.84%. The ex-dividend date is Thursday, September 21st. Global Medical REIT’s dividend payout ratio is currently 262.50%.

Global Medical REIT Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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