152,674 Shares in Global Medical REIT Inc. $GMRE Purchased by Heartland Advisors Inc.

Heartland Advisors Inc. bought a new position in shares of Global Medical REIT Inc. (NYSE:GMRE) in the third quarter, HoldingsChannel reports. The firm bought 152,674 shares of the company’s stock, valued at approximately $5,147,000.

Several other large investors have also modified their holdings of GMRE. Strs Ohio lifted its stake in Global Medical REIT by 3,810.1% in the 2nd quarter. Strs Ohio now owns 426,200 shares of the company’s stock valued at $2,954,000 after buying an additional 415,300 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Global Medical REIT in the second quarter valued at $2,829,000. Invesco Ltd. increased its position in Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after purchasing an additional 355,355 shares in the last quarter. Marshall Wace LLP boosted its position in Global Medical REIT by 2,208.2% during the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after acquiring an additional 279,070 shares during the last quarter. Finally, Redmond Asset Management LLC increased its stake in Global Medical REIT by 63.0% in the second quarter. Redmond Asset Management LLC now owns 426,622 shares of the company’s stock valued at $2,956,000 after purchasing an additional 164,909 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Price Performance

Shares of GMRE stock opened at $36.59 on Wednesday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $45.75. The firm has a fifty day simple moving average of $35.11 and a 200-day simple moving average of $34.25. The company has a market capitalization of $490.54 million, a PE ratio of -146.35 and a beta of 1.18.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Friday, December 19th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 8.2%. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Analysts Set New Price Targets

GMRE has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Robert W. Baird lowered their price target on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Finally, Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Global Medical REIT presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.