ExodusPoint Capital Management LP Trims Position in Global Medical REIT Inc. (NYSE:GMRE)

ExodusPoint Capital Management LP lowered its stake in Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 48.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,537 shares of the company's stock after selling 69,973 shares during the quarter. ExodusPoint Capital Management LP owned about 0.11% of Global Medical REIT worth $583,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GMRE. Franklin Resources Inc. increased its holdings in shares of Global Medical REIT by 228.9% in the 3rd quarter. Franklin Resources Inc. now owns 114,988 shares of the company's stock worth $1,073,000 after buying an additional 80,030 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Global Medical REIT by 158.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company's stock worth $1,195,000 after purchasing an additional 73,965 shares in the last quarter. Barclays PLC increased its stake in shares of Global Medical REIT by 87.1% during the third quarter. Barclays PLC now owns 154,051 shares of the company's stock valued at $1,527,000 after buying an additional 71,704 shares during the period. Raymond James Financial Inc. purchased a new position in Global Medical REIT during the 4th quarter valued at about $1,430,000. Finally, New Age Alpha Advisors LLC purchased a new position in Global Medical REIT during the fourth quarter valued at approximately $263,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley assumed coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They issued a "neutral" rating and a $9.00 price target on the stock.

Global Medical REIT Stock Performance

NYSE:GMRE traded up $0.14 during mid-day trading on Thursday, hitting $7.49. The company's stock had a trading volume of 102,629 shares, compared to its average volume of 443,282. The stock has a market cap of $500.53 million, a price-to-earnings ratio of -375.06, a PEG ratio of 1.43 and a beta of 1.12. The business's fifty day moving average is $8.27 and its two-hundred day moving average is $8.46. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT Inc. has a 1 year low of $6.75 and a 1 year high of $10.46.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.21. The firm had revenue of $35.16 million during the quarter, compared to analysts' expectations of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. Analysts anticipate that Global Medical REIT Inc. will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Investors of record on Friday, March 21st were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 11.22%. The ex-dividend date was Friday, March 21st. Global Medical REIT's payout ratio is 8,400.00%.

Global Medical REIT 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.