Global Medical REIT Inc (NYSE:GMRE) Position Trimmed by Teachers Insurance & Annuity Association of America

Teachers Insurance & Annuity Association of America decreased its holdings in shares of Global Medical REIT Inc (NYSE:GMRE) by 47.3% in the 2nd quarter, Holdings Channel reports. The firm owned 11,085 shares of the company’s stock after selling 9,959 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Global Medical REIT were worth $116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its stake in Global Medical REIT by 3.8% during the second quarter. State of New Jersey Common Pension Fund D now owns 682,143 shares of the company’s stock valued at $7,163,000 after purchasing an additional 25,000 shares during the last quarter. Marshall Wace LLP bought a new stake in Global Medical REIT during the first quarter valued at $6,569,000. Wells Fargo & Company MN increased its stake in Global Medical REIT by 439.1% during the second quarter. Wells Fargo & Company MN now owns 603,779 shares of the company’s stock valued at $6,340,000 after purchasing an additional 491,778 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Global Medical REIT by 0.4% during the second quarter. Pacific Ridge Capital Partners LLC now owns 483,337 shares of the company’s stock valued at $5,075,000 after purchasing an additional 1,693 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Global Medical REIT by 7.1% during the second quarter. Northern Trust Corp now owns 287,453 shares of the company’s stock valued at $3,018,000 after purchasing an additional 19,099 shares during the last quarter. Hedge funds and other institutional investors own 46.99% of the company’s stock.

Several analysts have weighed in on GMRE shares. Zacks Investment Research upgraded shares of Global Medical REIT from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 11th. TheStreet downgraded shares of Global Medical REIT from a “b” rating to a “c+” rating in a report on Thursday, August 8th. Finally, ValuEngine downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Global Medical REIT currently has a consensus rating of “Buy” and an average price target of $10.67.

In other news, Director Ronald Marston purchased 3,000 shares of Global Medical REIT stock in a transaction dated Monday, August 26th. The stock was bought at an average price of $10.70 per share, with a total value of $32,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 11.70% of the company’s stock.

Shares of GMRE traded up $0.09 during midday trading on Friday, hitting $10.92. 4,441 shares of the stock traded hands, compared to its average volume of 190,058. Global Medical REIT Inc has a 1-year low of $8.15 and a 1-year high of $11.51. The firm has a market capitalization of $382.29 million, a PE ratio of 14.05 and a beta of 0.38. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.14 and a current ratio of 0.14. The business’s 50 day moving average price is $10.63 and its two-hundred day moving average price is $10.44.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.16). Global Medical REIT had a net margin of 24.11% and a return on equity of 5.91%. The firm had revenue of $16.88 million for the quarter, compared to analyst estimates of $16.74 million. As a group, equities research analysts forecast that Global Medical REIT Inc will post 0.74 EPS for the current fiscal year.

Global Medical REIT Company Profile

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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