Sound Income Strategies LLC Acquires 97,630 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Sound Income Strategies LLC raised its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 10.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,075,129 shares of the company’s stock after purchasing an additional 97,630 shares during the period. Sound Income Strategies LLC owned 1.64% of Global Medical REIT worth $9,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of GMRE. Raymond James & Associates increased its position in shares of Global Medical REIT by 1.3% during the fourth quarter. Raymond James & Associates now owns 121,871 shares of the company’s stock valued at $1,353,000 after acquiring an additional 1,606 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Global Medical REIT by 41.5% in the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock worth $63,000 after purchasing an additional 1,666 shares during the last quarter. Royal Fund Management LLC boosted its position in shares of Global Medical REIT by 2.7% during the fourth quarter. Royal Fund Management LLC now owns 77,017 shares of the company’s stock valued at $855,000 after buying an additional 1,997 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Global Medical REIT by 19.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,110 shares of the company’s stock worth $146,000 after buying an additional 2,114 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Global Medical REIT by 2.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 95,377 shares of the company’s stock worth $1,086,000 after buying an additional 2,179 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

GMRE has been the subject of a number of research analyst reports. StockNews.com lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th. B. Riley cut their target price on shares of Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, May 13th.

Global Medical REIT Stock Performance

NYSE:GMRE traded down $0.05 during mid-day trading on Wednesday, hitting $8.81. 526,706 shares of the company traded hands, compared to its average volume of 392,906. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 1.14. The stock’s fifty day moving average price is $8.77 and its 200-day moving average price is $9.38. The firm has a market cap of $577.83 million, a price-to-earnings ratio of 38.13, a price-to-earnings-growth ratio of 1.23 and a beta of 1.21. Global Medical REIT Inc. has a one year low of $7.98 and a one year high of $11.59.

Global Medical REIT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Friday, June 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 9.53%. The ex-dividend date of this dividend is Friday, June 21st. Global Medical REIT’s payout ratio is 365.22%.

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.