Global Medical REIT (NYSE:GMRE) Trading 4.8% Higher Following Strong Earnings

Global Medical REIT Inc. (NYSE:GMRE - Get Free Report)'s share price rose 4.8% during mid-day trading on Friday following a better than expected earnings announcement. The stock traded as high as $8.98 and last traded at $8.89. Approximately 94,864 shares were traded during trading, a decline of 80% from the average daily volume of 465,031 shares. The stock had previously closed at $8.48.

The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The firm had revenue of $35.16 million for the quarter, compared to analysts' expectations of $34.87 million.

Global Medical REIT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Friday, March 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.25%. The ex-dividend date is Friday, March 21st. Global Medical REIT's dividend payout ratio (DPR) is presently -4,200.00%.

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors have recently bought and sold shares of the company. Cutler Capital Management LLC boosted its holdings in Global Medical REIT by 0.3% in the 4th quarter. Cutler Capital Management LLC now owns 450,279 shares of the company's stock worth $3,476,000 after buying an additional 1,376 shares during the last quarter. Legal & General Group Plc boosted its holdings in Global Medical REIT by 2.5% in the 4th quarter. Legal & General Group Plc now owns 61,525 shares of the company's stock worth $475,000 after buying an additional 1,496 shares during the last quarter. Zacks Investment Management boosted its holdings 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 buying an additional 1,696 shares during the last quarter. Commonwealth Equity Services LLC boosted its holdings in Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company's stock worth $98,000 after buying an additional 1,819 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Global Medical REIT by 58.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company's stock worth $48,000 after buying an additional 2,301 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Price Performance

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's 50 day simple moving average is $7.99 and its two-hundred day simple moving average is $8.74. The firm has a market capitalization of $606.57 million, a PE ratio of -453.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.24.

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.