Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Grows By 8.6%

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

Wall Street Analysts Forecast Growth

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

Global Medical REIT Stock Up 0.6 %

GMRE stock traded up $0.04 during mid-day trading on Wednesday, reaching $7.93. 291,640 shares of the company traded hands, compared to its average volume of 512,758. The stock has a market cap of $529.99 million, a price-to-earnings ratio of -396.50, a P/E/G ratio of 1.33 and a beta of 1.24. Global Medical REIT has a fifty-two week low of $7.33 and a fifty-two week high of $10.46. The firm's 50 day moving average price is $8.07 and its 200 day moving average price is $8.88. 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 announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million for 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 quarter last year, the company posted $0.23 EPS. As a group, equities research analysts predict that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.59%. The ex-dividend date of this dividend was Friday, December 20th. Global Medical REIT's payout ratio is currently -4,197.90%.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors have recently added to or reduced their stakes in GMRE. Quantinno Capital Management LP bought a new position in shares of Global Medical REIT during the 3rd quarter valued at approximately $138,000. Zacks Investment Management boosted its stake in Global Medical REIT by 12.9% during the third quarter. Zacks Investment Management now owns 14,803 shares of the company's stock valued at $147,000 after buying an additional 1,696 shares during the period. Intech Investment Management LLC purchased a new stake in Global Medical REIT in the third quarter valued at approximately $150,000. Proficio Capital Partners LLC bought a new stake in shares of Global Medical REIT during the 4th quarter worth $178,000. Finally, Entropy Technologies LP purchased a new position in Global Medical REIT in the fourth quarter worth $179,000. 57.52% of the stock is owned by institutional investors.

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.