50,000 Shares in Global Medical REIT Inc (GMRE) Acquired by Forward Management LLC
Forward Management LLC purchased a new stake in Global Medical REIT Inc (NASDAQ:GMRE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the company’s stock, valued at approximately $447,000.
Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp raised its position in Global Medical REIT by 105.7% in the fourth quarter. State Street Corp now owns 222,290 shares of the company’s stock valued at $1,983,000 after buying an additional 114,242 shares in the last quarter. Teachers Advisors LLC increased its stake in Global Medical REIT by 37.5% in the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock valued at $197,000 after buying an additional 6,018 shares during the last quarter. Dubuque Bank & Trust Co. increased its stake in Global Medical REIT by 10.3% in the first quarter. Dubuque Bank & Trust Co. now owns 161,447 shares of the company’s stock valued at $1,466,000 after buying an additional 15,059 shares during the last quarter. Goodwin Daniel L increased its stake in Global Medical REIT by 19.3% in the first quarter. Goodwin Daniel L now owns 61,754 shares of the company’s stock valued at $560,000 after buying an additional 10,000 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Global Medical REIT by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 126,355 shares of the company’s stock valued at $1,147,000 after buying an additional 937 shares during the last quarter.
Shares of Global Medical REIT Inc (NASDAQ GMRE) opened at 8.99 on Friday. The company has a 50-day moving average of $9.13 and a 200 day moving average of $9.04. Global Medical REIT Inc has a 12-month low of $6.73 and a 12-month high of $11.24.
Global Medical REIT (NASDAQ:GMRE) last announced its earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.17. Global Medical REIT had a negative net margin of 54.55% and a negative return on equity of 6.70%. The business had revenue of $7.42 million during the quarter, compared to analyst estimates of $6.16 million. On average, equities research analysts predict that Global Medical REIT Inc will post ($0.09) earnings per share for the current fiscal year.
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Several equities research analysts recently weighed in on the stock. TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a report on Monday, July 10th. Zacks Investment Research raised shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, July 12th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Global Medical REIT in a report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Global Medical REIT has an average rating of “Buy” and a consensus price target of $10.67.
In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the stock in a transaction dated Friday, June 30th. The stock was bought at an average cost of $9.00 per share, for a total transaction of $99,900.00. Following the completion of the purchase, the chairman now owns 20,110 shares in the company, valued at approximately $180,990. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
About Global Medical REIT
Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.
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