Pensionfund PDN Makes New $837,000 Investment in Global Medical REIT Inc. $GMRE

Pensionfund PDN acquired a new stake in Global Medical REIT Inc. (NYSE:GMRE) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 24,800 shares of the company’s stock, valued at approximately $837,000.

A number of other hedge funds have also recently made changes to their positions in GMRE. Caitong International Asset Management Co. Ltd raised its holdings in shares of Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp bought a new position in Global Medical REIT in the 3rd quarter valued at about $35,000. New York State Teachers Retirement System acquired a new position in Global Medical REIT during the 3rd quarter valued at about $39,000. SG Americas Securities LLC bought a new stake in Global Medical REIT during the 4th quarter worth approximately $121,000. Finally, Tower Research Capital LLC TRC increased its holdings in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, 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 issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $35.96 on Tuesday. The business’s fifty day simple moving average is $35.85 and its 200 day simple moving average is $34.39. 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 12 month low of $29.05 and a 12 month high of $45.75. The firm has a market capitalization of $482.22 million, a P/E ratio of -143.84 and a beta of 1.18.

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.