OVERSEA CHINESE BANKING Corp Ltd Sells 63,657 Shares of Global Medical REIT Inc. $GMRE

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 80.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,045 shares of the company’s stock after selling 63,657 shares during the period. OVERSEA CHINESE BANKING Corp Ltd owned about 0.11% of Global Medical REIT worth $507,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Strs Ohio lifted its stake in Global Medical REIT by 3,810.1% in the second quarter. Strs Ohio now owns 426,200 shares of the company’s stock worth $2,954,000 after purchasing an additional 415,300 shares during the last quarter. Gabelli Funds LLC purchased a new stake in Global Medical REIT during the 2nd quarter valued at $2,829,000. Invesco Ltd. increased its stake in shares of Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after buying an additional 355,355 shares during the period. Marshall Wace LLP raised its holdings in shares of Global Medical REIT by 2,208.2% during the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock valued at $2,022,000 after acquiring an additional 279,070 shares in the last quarter. Finally, LDR Capital Management LLC bought a new stake in Global Medical REIT in the second quarter valued at $1,213,000. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 10,000 shares of Global Medical REIT stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $32.58 per share, with a total value of $325,800.00. Following the acquisition, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.50% of the company’s stock.

Global Medical REIT Price Performance

GMRE opened at $36.09 on Friday. The firm has a market cap of $484.02 million, a PE ratio of -144.38 and a beta of 1.18. The stock has a 50-day moving average price of $33.66 and a 200-day moving average price of $34.19. Global Medical REIT Inc. has a 1 year low of $29.05 and a 1 year high of $45.75. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $37.23 million during the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT had a net margin of 0.79% and a return on equity of 0.25%. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. Sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were given a $0.75 dividend. The ex-dividend date of this dividend was Friday, December 19th. This represents a $3.00 annualized dividend and a yield of 8.3%. Global Medical REIT’s dividend payout ratio is -1,200.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GMRE shares. Zacks Research raised shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the stock a “market outperform” rating in a research report on Monday, October 13th. Robert W. Baird lowered their price target on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a research report on Tuesday, November 11th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 target price for the company in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Global Medical REIT currently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Global Medical REIT Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.