Global Medical REIT Inc. (NYSE:GMRE) Short Interest Up 7.8% in March

Global Medical REIT Inc. (NYSE:GMREGet Free Report) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 1,250,000 shares, an increase of 7.8% from the February 29th total of 1,160,000 shares. Based on an average daily volume of 376,200 shares, the short-interest ratio is currently 3.3 days.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of GMRE. Vanguard Group Inc. lifted its holdings in shares of Global Medical REIT by 0.9% during the third quarter. Vanguard Group Inc. now owns 6,336,216 shares of the company’s stock valued at $53,984,000 after purchasing an additional 56,735 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Global Medical REIT by 5.9% during the second quarter. BlackRock Inc. now owns 5,214,812 shares of the company’s stock valued at $47,611,000 after purchasing an additional 290,697 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Global Medical REIT by 0.3% during the first quarter. Prudential Financial Inc. now owns 2,363,472 shares of the company’s stock valued at $38,572,000 after purchasing an additional 8,080 shares during the last quarter. State Street Corp lifted its stake in Global Medical REIT by 3.2% in the 1st quarter. State Street Corp now owns 1,933,065 shares of the company’s stock worth $18,010,000 after acquiring an additional 59,720 shares in the last quarter. Finally, Wellington Management Group LLP purchased a new stake in Global Medical REIT in the 1st quarter worth about $24,828,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Price Performance

Shares of GMRE opened at $8.54 on Thursday. Global Medical REIT has a 12 month low of $8.06 and a 12 month high of $11.59. The company has a market cap of $559.64 million, a P/E ratio of 37.11 and a beta of 1.12. The stock has a fifty day moving average price of $9.22 and a 200 day moving average price of $9.61. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.17 and a quick ratio of 0.17.

Global Medical REIT Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 9th. Stockholders of record on Friday, March 22nd will be paid a $0.21 dividend. The ex-dividend date is Thursday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 9.84%. Global Medical REIT’s payout ratio is 365.22%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Wednesday, February 28th.

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About Global Medical REIT

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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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