Arrowstreet Capital Limited Partnership Decreases Stake in Global Medical REIT Inc. (NYSE:GMRE)

Arrowstreet Capital Limited Partnership lowered its position in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 27.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 281,043 shares of the company's stock after selling 107,603 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.42% of Global Medical REIT worth $2,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMRE. PNC Financial Services Group Inc. lifted its stake in shares of Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock valued at $48,000 after purchasing an additional 2,301 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Global Medical REIT during the fourth quarter worth approximately $91,000. Commonwealth Equity Services LLC grew its holdings in shares of Global Medical REIT by 16.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock worth $98,000 after buying an additional 1,819 shares in the last quarter. Caisse Des Depots ET Consignations acquired a new stake in Global Medical REIT in the 4th quarter valued at about $100,000. Finally, Quantinno Capital Management LP purchased a new position in Global Medical REIT during the third quarter worth approximately $138,000. Institutional investors and hedge funds own 57.52% of the company's stock.

Wall Street Analysts Forecast Growth

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

Global Medical REIT Stock Down 0.1 %

Shares of NYSE:GMRE traded down $0.01 during trading hours on Wednesday, reaching $7.38. The stock had a trading volume of 40,836 shares, compared to its average volume of 443,394. The stock has a market capitalization of $493.51 million, a price-to-earnings ratio of -367.82, a P/E/G ratio of 1.43 and a beta of 1.12. Global Medical REIT Inc. has a 1 year low of $6.75 and a 1 year high of $10.46. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm's 50 day moving average is $8.28 and its 200-day moving average is $8.46.

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

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 11.38%. The ex-dividend date was Friday, March 21st. Global Medical REIT's dividend payout ratio (DPR) is presently 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.