B. Riley Upgrades Global Medical REIT (NYSE:GMRE) to "Hold"

B. Riley upgraded shares of Global Medical REIT (NYSE:GMRE - Free Report) to a hold rating in a research note published on Wednesday, April 2nd,Zacks.com reports.

Global Medical REIT Stock Down 1.8 %

GMRE traded down $0.13 on Wednesday, reaching $7.04. The company's stock had a trading volume of 586,176 shares, compared to its average volume of 437,173. 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 has a fifty-two week low of $6.81 and a fifty-two week high of $10.46. The stock has a 50 day moving average of $8.35 and a two-hundred day moving average of $8.56. The company has a market capitalization of $471.04 million, a price-to-earnings ratio of -352.67, a P/E/G ratio of 1.43 and a beta of 1.12.

Global Medical REIT (NYSE:GMRE - Get Free Report) last posted its earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. As a group, analysts forecast 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 will be paid on Wednesday, April 9th. Investors of record on Friday, March 21st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 21st. This represents a $0.84 dividend on an annualized basis and a yield of 11.93%. Global Medical REIT's dividend payout ratio is presently 8,400.00%.

Institutional Investors Weigh In On Global Medical REIT

Several large investors have recently modified their holdings of GMRE. Man Group plc boosted its stake in Global Medical REIT by 321.7% during the 4th quarter. Man Group plc now owns 561,022 shares of the company's stock worth $4,331,000 after purchasing an additional 427,987 shares during the period. Balyasny Asset Management L.P. purchased a new position in shares of Global Medical REIT during the fourth quarter worth about $2,904,000. JPMorgan Chase & Co. increased its position in Global Medical REIT by 94.5% in the 4th quarter. JPMorgan Chase & Co. now owns 451,197 shares of the company's stock valued at $3,483,000 after acquiring an additional 219,270 shares during the period. Raymond James Financial Inc. purchased a new stake in Global Medical REIT during the 4th quarter valued at approximately $1,430,000. Finally, Pacific Ridge Capital Partners LLC grew its stake in shares of Global Medical REIT by 31.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 712,101 shares of the company's stock valued at $5,497,000 after purchasing an additional 172,171 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

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.