Raymond James Financial Inc. Purchases New Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Raymond James Financial Inc. purchased a new position in Global Medical REIT Inc. (NYSE:GMRE - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 185,224 shares of the company's stock, valued at approximately $1,430,000. Raymond James Financial Inc. owned 0.28% of Global Medical REIT at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Quantinno Capital Management LP bought a new stake in Global Medical REIT during the 3rd quarter worth approximately $138,000. Zacks Investment Management raised its position in shares of Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company's stock worth $147,000 after buying an additional 1,696 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of Global Medical REIT in the third quarter worth $150,000. Dynamic Technology Lab Private Ltd bought a new stake in Global Medical REIT during the third quarter valued at $206,000. Finally, Proficio Capital Partners LLC purchased a new position in Global Medical REIT during the fourth quarter worth about $178,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, B. Riley started coverage on shares of Global Medical REIT in a report on Thursday. They issued a "neutral" rating and a $9.00 price target on the stock.

Global Medical REIT Trading Down 3.7 %

Shares of GMRE traded down $0.30 during mid-day trading on Friday, hitting $7.73. 895,797 shares of the company's stock traded hands, compared to its average volume of 430,531. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $516.58 million, a P/E ratio of -386.06, a PEG ratio of 1.43 and a beta of 1.12. The business's 50-day moving average price is $8.40 and its 200-day moving average price is $8.61. Global Medical REIT Inc. has a 1 year low of $7.33 and a 1 year high of $10.46.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.01 by $0.21. The business had revenue of $35.16 million during the quarter, compared to analyst estimates of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. As a group, sell-side analysts forecast that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.87%. Global Medical REIT's dividend payout ratio (DPR) is 8,400.00%.

Global Medical REIT Company Profile

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.