Rational Advisors LLC Buys 3,716 Shares of Global Medical REIT Inc (GMRE)
Rational Advisors LLC increased its position in Global Medical REIT Inc (NASDAQ:GMRE) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 270,816 shares of the company’s stock after buying an additional 3,716 shares during the period. Global Medical REIT comprises approximately 1.5% of Rational Advisors LLC’s holdings, making the stock its 9th largest position. Rational Advisors LLC’s holdings in Global Medical REIT were worth $2,421,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in GMRE. State Street Corp boosted its stake in Global Medical REIT by 105.7% in the fourth quarter. State Street Corp now owns 222,290 shares of the company’s stock worth $1,983,000 after buying an additional 114,242 shares in the last quarter. Manning & Napier Advisors LLC boosted its stake in Global Medical REIT by 17.3% in the second quarter. Manning & Napier Advisors LLC now owns 609,735 shares of the company’s stock worth $5,449,000 after buying an additional 89,975 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Global Medical REIT during the second quarter worth approximately $754,000. Neuberger Berman Group LLC bought a new stake in Global Medical REIT during the first quarter worth approximately $601,000. Finally, Orinda Asset Management LLC boosted its stake in Global Medical REIT by 100.0% in the second quarter. Orinda Asset Management LLC now owns 100,000 shares of the company’s stock worth $894,000 after buying an additional 50,000 shares in the last quarter.
Shares of Global Medical REIT Inc (GMRE) opened at 8.99 on Friday. The company’s 50-day moving average is $9.13 and its 200 day moving average is $9.04. Global Medical REIT Inc has a 52 week low of $6.73 and a 52 week high of $11.24.
Global Medical REIT (NASDAQ:GMRE) last posted its earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $6.16 million. Equities analysts predict that Global Medical REIT Inc will post ($0.09) earnings per share for the current year.
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GMRE has been the subject of a number of research reports. Zacks Investment Research raised shares of Global Medical REIT from a “sell” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, May 10th. FBR & Co reissued an “outperform” rating and set a $10.00 target price on shares of Global Medical REIT in a research note on Tuesday, July 11th. Finally, TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $10.67.
In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the company’s stock in a transaction on Friday, June 30th. The stock was purchased at an average cost of $9.00 per share, for a total transaction of $99,900.00. Following the acquisition, the chairman now owns 20,110 shares of the company’s stock, valued at approximately $180,990. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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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