Global Medical REIT Inc. (NYSE:GMRE) Sees Large Increase in Short Interest

Global Medical REIT Inc. (NYSE:GMREGet Free Report) was the target of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,250,000 shares, an increase of 7.8% from the February 29th total of 1,160,000 shares. Based on an average daily trading volume, of 376,200 shares, the days-to-cover ratio is presently 3.3 days.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, February 28th.

View Our Latest Analysis on GMRE

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in GMRE. JPMorgan Chase & Co. lifted its holdings in Global Medical REIT by 6.4% in the 1st quarter. JPMorgan Chase & Co. now owns 728,295 shares of the company’s stock worth $11,886,000 after purchasing an additional 43,687 shares during the last quarter. Raymond James & Associates lifted its holdings in Global Medical REIT by 12.9% in the 1st quarter. Raymond James & Associates now owns 136,298 shares of the company’s stock worth $2,224,000 after purchasing an additional 15,528 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Global Medical REIT by 58.8% in the 1st quarter. MetLife Investment Management LLC now owns 29,210 shares of the company’s stock worth $477,000 after purchasing an additional 10,812 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Global Medical REIT by 6.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 52,268 shares of the company’s stock worth $886,000 after purchasing an additional 3,089 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Global Medical REIT by 0.7% during the first quarter. Dimensional Fund Advisors LP now owns 755,453 shares of the company’s stock worth $12,329,000 after buying an additional 5,087 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Trading Down 1.7 %

Shares of NYSE GMRE opened at $8.50 on Wednesday. The business has a 50 day simple moving average of $9.25 and a 200 day simple moving average of $9.62. Global Medical REIT has a 52 week low of $8.06 and a 52 week high of $11.59. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.17 and a current ratio of 0.17. The stock has a market cap of $557.02 million, a price-to-earnings ratio of 36.93 and a beta of 1.12.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 9th. Investors of record on Friday, March 22nd will be issued a $0.21 dividend. The ex-dividend date of this dividend is Thursday, March 21st. This represents a $0.84 annualized dividend and a yield of 9.89%. Global Medical REIT’s dividend payout ratio (DPR) is currently 365.22%.

Global Medical REIT Company Profile

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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.

Further Reading

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