Short Interest in Global Medical REIT Inc. (NYSE:GMRE) Decreases By 13.3%

Global Medical REIT Inc. (NYSE:GMRE) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 1,040,000 shares, a drop of 13.3% from the October 31st total of 1,200,000 shares. Based on an average trading volume of 397,400 shares, the days-to-cover ratio is presently 2.6 days.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors have recently added to or reduced their stakes in GMRE. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Global Medical REIT during the second quarter worth about $100,000. Quantinno Capital Management LP acquired a new stake in Global Medical REIT in the third quarter valued at $138,000. Zacks Investment Management grew its stake in Global Medical REIT by 12.9% in the third quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after purchasing an additional 1,696 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Global Medical REIT during the 3rd quarter valued at approximately $150,000. Finally, Versor Investments LP acquired a new stake in shares of Global Medical REIT during the 3rd quarter valued at approximately $189,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Down 0.1 %

Shares of NYSE:GMRE traded down $0.01 during midday trading on Tuesday, hitting $8.77. 291,733 shares of the company’s stock traded hands, compared to its average volume of 382,821. The firm’s fifty day moving average price is $9.20 and its two-hundred day moving average price is $9.24. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a market cap of $585.84 million, a PE ratio of -438.28, a P/E/G ratio of 1.53 and a beta of 1.21.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the business posted $0.23 earnings per share. On average, equities research analysts anticipate that Global Medical REIT will post 0.83 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared 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 yield of 9.58%. The ex-dividend date was Friday, September 20th. Global Medical REIT’s payout ratio is -4,197.90%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Global Medical REIT in a research report on Friday, October 18th. They set a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners assumed coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock.

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.