Franklin Resources Inc. Boosts Stock Position in Global Medical REIT Inc. (NYSE:GMRE)

Franklin Resources Inc. grew its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 228.9% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 114,988 shares of the company's stock after purchasing an additional 80,030 shares during the period. Franklin Resources Inc. owned about 0.17% of Global Medical REIT worth $1,073,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of GMRE. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Global Medical REIT in the second quarter valued at about $100,000. Quantinno Capital Management LP bought a new stake in Global Medical REIT in the 3rd quarter worth about $138,000. Zacks Investment Management grew its position in Global Medical REIT by 12.9% in the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company's stock worth $147,000 after purchasing an additional 1,696 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Global Medical REIT in the 3rd quarter valued at about $150,000. Finally, Versor Investments LP bought a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $189,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Global Medical REIT Stock Performance

GMRE traded down $0.21 during midday trading on Friday, reaching $7.61. The company had a trading volume of 830,756 shares, compared to its average volume of 394,972. Global Medical REIT Inc. has a 12-month low of $7.53 and a 12-month high of $11.40. The business has a 50-day moving average price of $8.71 and a two-hundred day moving average price of $9.14. The stock has a market cap of $508.37 million, a PE ratio of -380.31, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted 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). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.26 million during the quarter, compared to analysts' expectations of $34.88 million. During the same quarter in the previous year, the company posted $0.23 EPS. On average, sell-side analysts expect that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 20th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 11.04%. The ex-dividend date is Friday, December 20th. Global Medical REIT's dividend payout ratio (DPR) is currently -4,200.00%.

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.