Polaris Capital Management LLC cut its stake in shares of Global Medical REIT Inc. (NYSE:GMRE - Free Report) by 47.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 109,200 shares of the company's stock after selling 96,800 shares during the period. Polaris Capital Management LLC owned about 0.16% of Global Medical REIT worth $843,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in GMRE. Quantinno Capital Management LP purchased a new stake in Global Medical REIT during the 3rd quarter valued at $138,000. Zacks Investment Management raised its stake in Global Medical REIT by 12.9% during the 3rd 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 last quarter. Intech Investment Management LLC purchased a new stake in Global Medical REIT during the 3rd quarter valued at $150,000. Entropy Technologies LP purchased a new stake in shares of Global Medical REIT in the 4th quarter worth $179,000. Finally, Versor Investments LP purchased a new stake in shares of Global Medical REIT in the 3rd quarter worth $189,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Berenberg Bank began coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a "buy" rating and a $11.75 price objective for the company.
View Our Latest Research Report on GMRE
Global Medical REIT Stock Performance
Shares of NYSE:GMRE traded up $0.15 during midday trading on Friday, hitting $8.28. The company had a trading volume of 321,690 shares, compared to its average volume of 478,740. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market cap of $552.77 million, a price-to-earnings ratio of -414.04, a PEG ratio of 1.35 and a beta of 1.24. Global Medical REIT Inc. has a 12-month low of $7.33 and a 12-month high of $10.46. The company has a fifty day moving average of $7.95 and a two-hundred day moving average of $8.81.
Global Medical REIT Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 10.15%. The ex-dividend date of this dividend was Friday, December 20th. Global Medical REIT's dividend payout ratio is currently -4,197.90%.
About Global Medical REIT
(
Free Report)
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.
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