LSV Asset Management Lowers Position in Global Medical REIT Inc. $GMRE

LSV Asset Management trimmed its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 80.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 154,099 shares of the company’s stock after selling 643,801 shares during the quarter. LSV Asset Management owned approximately 1.15% of Global Medical REIT worth $5,195,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in Global Medical REIT by 3.0% during the second quarter. Geode Capital Management LLC now owns 1,748,799 shares of the company’s stock valued at $12,121,000 after buying an additional 50,959 shares during the period. Invesco Ltd. boosted its stake in shares of 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 acquiring an additional 355,355 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Global Medical REIT by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock valued at $10,499,000 after acquiring an additional 119,538 shares during the period. Man Group plc increased its stake in shares of Global Medical REIT by 1.7% in the 2nd quarter. Man Group plc now owns 600,943 shares of the company’s stock valued at $4,165,000 after purchasing an additional 10,192 shares in the last quarter. Finally, Cutler Capital Management LLC increased its stake in shares of Global Medical REIT by 3.5% in the 2nd quarter. Cutler Capital Management LLC now owns 472,938 shares of the company’s stock valued at $3,277,000 after purchasing an additional 15,900 shares in the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on GMRE. Robert W. Baird dropped their price objective on Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $36.21 on Monday. The business has a 50 day simple moving average of $35.00 and a two-hundred day simple moving average of $34.21. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $45.75. The stock has a market capitalization of $485.58 million, a P/E ratio of -144.84 and a beta of 1.18. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders 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 8.3%. Global Medical REIT’s dividend 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.