Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 43.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,858 shares of the company's stock after selling 84,033 shares during the period. Thrivent Financial for Lutherans owned about 0.17% of Global Medical REIT worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in GMRE. Victory Capital Management Inc. lifted its position in shares of Global Medical REIT by 5.1% during the third quarter. Victory Capital Management Inc. now owns 138,222 shares of the company's stock valued at $1,370,000 after buying an additional 6,689 shares during the last quarter. Versor Investments LP purchased a new stake in Global Medical REIT during the third quarter valued at approximately $189,000. State of New Jersey Common Pension Fund D boosted its stake in Global Medical REIT by 8.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 637,751 shares of the company's stock valued at $6,320,000 after acquiring an additional 47,500 shares in the last quarter. M&G PLC acquired a new stake in shares of Global Medical REIT in the 3rd quarter worth $193,000. Finally, First Trust Direct Indexing L.P. grew its stake in Global Medical REIT by 25.6% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 20,432 shares of the company's stock worth $202,000 after buying an additional 4,164 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company's stock.

Global Medical REIT Stock Performance

Shares of GMRE traded down $0.12 during mid-day trading on Monday, reaching $8.78. The company had a trading volume of 366,798 shares, compared to its average volume of 383,214. The stock has a market capitalization of $586.17 million, a P/E ratio of -444.28, a PEG ratio of 1.53 and a beta of 1.25. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59. The stock has a 50 day moving average of $9.22 and a two-hundred day moving average of $9.24. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.18). The business had revenue of $34.26 million for the quarter, compared to analysts' expectations of $34.88 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. During the same quarter in the prior year, the company posted $0.23 EPS. On average, analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current year.

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 9.57%. The ex-dividend date was Friday, September 20th. Global Medical REIT's payout ratio is -4,197.90%.

Analyst Ratings Changes

Several equities analysts recently issued reports on GMRE shares. Alliance Global Partners began coverage on Global Medical REIT in a research note on Thursday, September 19th. They issued a "buy" rating and a $12.00 target price for the company. Berenberg Bank began coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a "buy" rating and a $11.75 price objective for the company.

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.