Global Medical REIT Inc. (NYSE:GMRE) Short Interest Update

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report) was the recipient of a significant increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,140,000 shares, an increase of 8.6% from the December 15th total of 1,050,000 shares. Based on an average trading volume of 444,500 shares, the days-to-cover ratio is currently 2.6 days.

Hedge Funds Weigh In On Global Medical REIT

Several hedge funds have recently bought and sold shares of GMRE. Franklin Resources Inc. boosted its stake 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 valued at $1,073,000 after purchasing an additional 80,030 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Global Medical REIT by 158.6% during 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 valued at $1,195,000 after buying an additional 73,965 shares during the last quarter. Barclays PLC lifted its stake in shares of Global Medical REIT by 87.1% in the 3rd quarter. Barclays PLC now owns 154,051 shares of the company's stock valued at $1,527,000 after acquiring an additional 71,704 shares during the last quarter. Duncan Williams Asset Management LLC bought a new position in Global Medical REIT during the 3rd quarter worth approximately $538,000. Finally, State Street Corp grew its holdings in shares of Global Medical REIT by 1.5% in the third quarter. State Street Corp now owns 1,924,433 shares of the company's stock worth $19,468,000 after purchasing an additional 28,444 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company's stock.

Global Medical REIT Stock Performance

NYSE GMRE traded down $0.15 during trading on Monday, hitting $7.97. 411,042 shares of the company's stock traded hands, compared to its average volume of 578,971. 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 stock has a market capitalization of $532.69 million, a price-to-earnings ratio of -398.50, a PEG ratio of 1.22 and a beta of 1.23. Global Medical REIT has a 12-month low of $7.33 and a 12-month high of $10.58. The business has a 50 day moving average of $8.26 and a 200-day moving average of $9.00.

Global Medical REIT (NYSE:GMRE - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The business had revenue of $34.26 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $0.23 earnings per share. As a group, equities research analysts anticipate that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 dividend on an annualized basis and a yield of 10.53%. Global Medical REIT's dividend payout ratio (DPR) is -4,200.00%.

Analysts Set New Price Targets

Separately, Berenberg Bank started coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a "buy" rating and a $11.75 price target on the stock.

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.