Penserra Capital Management LLC Sells 131,200 Shares of Global Medical REIT Inc. $GMRE

Penserra Capital Management LLC trimmed its position in Global Medical REIT Inc. (NYSE:GMRE) by 79.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,234 shares of the company’s stock after selling 131,200 shares during the period. Penserra Capital Management LLC’s holdings in Global Medical REIT were worth $1,154,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GMRE. JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the company a “market outperform” rating in a research report on Monday, October 13th. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Citigroup raised Global Medical REIT to an “outperform” rating in a research report on Monday, October 13th. Robert W. Baird reduced 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, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Insiders Place Their Bets

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 10,000 shares of the business’s stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $32.58 per share, with a total value of $325,800.00. Following the acquisition, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at $1,458,736.92. This trade represents a 28.76% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 8.50% of the company’s stock.

Global Medical REIT Stock Down 0.1%

Shares of GMRE stock opened at $36.69 on Friday. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $45.75. The stock has a market cap of $491.96 million, a price-to-earnings ratio of -146.74 and a beta of 1.18. The firm’s 50-day moving average is $34.65 and its 200-day moving average is $34.17. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $37.23 million during the quarter, compared to analysts’ expectations of $38.15 million. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%. Sell-side analysts predict that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued 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 payout ratio is presently -1,200.00%.

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.