Sound Income Strategies LLC Sells 7,733 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Sound Income Strategies LLC lowered its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 46.6% in the third quarter, HoldingsChannel reports. The fund owned 8,870 shares of the company’s stock after selling 7,733 shares during the period. Sound Income Strategies LLC’s holdings in Global Medical REIT were worth $88,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in GMRE. Tidal Investments LLC boosted its holdings in Global Medical REIT by 5.8% during the first quarter. Tidal Investments LLC now owns 27,499 shares of the company’s stock worth $241,000 after purchasing an additional 1,504 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of Global Medical REIT by 2.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 74,528 shares of the company’s stock valued at $652,000 after acquiring an additional 1,592 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Global Medical REIT by 7.2% in the second quarter. Principal Financial Group Inc. now owns 30,107 shares of the company’s stock valued at $273,000 after acquiring an additional 2,033 shares during the last quarter. Oppenheimer & Co. Inc. raised its holdings in Global Medical REIT by 8.6% during the first quarter. Oppenheimer & Co. Inc. now owns 26,988 shares of the company’s stock worth $236,000 after acquiring an additional 2,146 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Global Medical REIT by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 48,186 shares of the company’s stock valued at $438,000 after purchasing an additional 3,471 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners began coverage on Global Medical REIT in a research report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Stock Performance

Shares of GMRE opened at $9.34 on Tuesday. The company has a market cap of $612.59 million, a PE ratio of 40.61, a price-to-earnings-growth ratio of 1.37 and a beta of 1.25. The firm has a 50-day moving average of $9.44 and a 200-day moving average of $9.09. Global Medical REIT Inc. has a one year low of $7.98 and a one year high of $11.59. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). The business had revenue of $34.24 million for the quarter, compared to the consensus estimate of $35.24 million. Global Medical REIT had a return on equity of 1.09% and a net margin of 4.18%. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, equities analysts forecast that Global Medical REIT Inc. will post 0.85 earnings per share for the current year.

Global Medical REIT Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Friday, September 20th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 8.99%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s payout ratio is presently 365.22%.

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.