Global Medical REIT Inc. (NYSE:GMRE) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 18.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,500 shares of the company’s stock after selling 5,000 shares during the quarter. Hodges Capital Management Inc.’s holdings in Global Medical REIT were worth $223,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Global Medical REIT during the 2nd quarter valued at $100,000. Quantinno Capital Management LP purchased a new position in Global Medical REIT in the third quarter valued at about $138,000. Zacks Investment Management raised its position in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock valued at $147,000 after purchasing an additional 1,696 shares during the period. Intech Investment Management LLC acquired a new position in shares of Global Medical REIT during the third quarter worth about $150,000. Finally, Versor Investments LP purchased a new stake in shares of Global Medical REIT in the third quarter worth about $189,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on GMRE. Alliance Global Partners initiated coverage on Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 target price on the stock. Berenberg Bank assumed coverage on shares of Global Medical REIT in a report on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective on the stock.

Global Medical REIT Price Performance

Shares of GMRE opened at $8.54 on Monday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. The business’s 50 day moving average is $9.11 and its two-hundred day moving average is $9.24. Global Medical REIT Inc. has a 52-week low of $7.98 and a 52-week high of $11.59.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million during the quarter, compared to analyst estimates of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, equities research analysts predict that Global Medical REIT Inc. will post 0.83 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 20th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.84 annualized dividend and a dividend yield of 9.84%. Global Medical REIT’s payout ratio is -4,197.90%.

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.