Global Medical REIT Inc. (NYSE:GMRE) Short Interest Up 30.4% in March

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) saw a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 1,800,000 shares, an increase of 30.4% from the March 15th total of 1,380,000 shares. Based on an average daily volume of 542,500 shares, the days-to-cover ratio is currently 3.3 days. Approximately 2.9% of the company's stock are sold short.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its stake in shares of Global Medical REIT by 1.5% during the third quarter. State Street Corp now owns 1,924,433 shares of the company's stock worth $19,468,000 after buying an additional 28,444 shares during the period. Barclays PLC increased its holdings in shares of Global Medical REIT by 87.1% in the third quarter. Barclays PLC now owns 154,051 shares of the company's stock valued at $1,527,000 after purchasing an additional 71,704 shares during the period. Geode Capital Management LLC raised its stake in shares of Global Medical REIT by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,622,159 shares of the company's stock worth $16,078,000 after purchasing an additional 18,209 shares during the last quarter. Franklin Resources Inc. raised its position in Global Medical REIT by 228.9% during 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. Finally, JPMorgan Chase & Co. increased its stake in shares of Global Medical REIT by 54.3% during the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company's stock worth $2,298,000 after acquiring an additional 81,596 shares during the period. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, B. Riley began coverage on Global Medical REIT in a research report on Thursday, April 3rd. They set a "neutral" rating and a $9.00 price objective for the company.

Global Medical REIT Stock Up 0.2 %

GMRE stock traded up $0.02 during trading on Tuesday, hitting $7.51. 382,132 shares of the company's stock were exchanged, compared to its average volume of 445,541. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The business has a 50-day moving average price of $8.25 and a two-hundred day moving average price of $8.39. The stock has a market capitalization of $501.87 million, a price-to-earnings ratio of -375.06, a PEG ratio of 1.43 and a beta of 1.12. Global Medical REIT has a 52-week low of $6.75 and a 52-week 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.21. The company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. As a group, equities research analysts expect that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 11.19%. Global Medical REIT's payout ratio is 8,400.00%.

About Global Medical REIT

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.