Resona Asset Management Co. Ltd. Sells 19,178 Shares of Global Medical REIT Inc. $GMRE

Resona Asset Management Co. Ltd. trimmed its holdings in shares of Global Medical REIT Inc. (NYSE:GMRE) by 78.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,410 shares of the company’s stock after selling 19,178 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Global Medical REIT were worth $178,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new position in shares of Global Medical REIT in the third quarter worth about $39,000. Tower Research Capital LLC TRC grew its position in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after acquiring an additional 3,046 shares during the last quarter. Metis Global Partners LLC purchased a new position in Global Medical REIT in the 2nd quarter worth approximately $72,000. B. Riley Wealth Advisors Inc. bought a new stake in Global Medical REIT in the second quarter valued at approximately $78,000. Finally, EMC Capital Management lifted its position in Global Medical REIT by 457.0% in the second quarter. EMC Capital Management now owns 12,654 shares of the company’s stock valued at $88,000 after purchasing an additional 10,382 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on GMRE shares. Robert W. Baird cut their target price on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price objective on the stock in a research report on Monday, October 13th. Citigroup raised shares of Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. Finally, JMP Securities set a $40.00 target price on shares of Global Medical REIT and gave the stock a “market outperform” rating 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 and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT Trading Up 0.8%

Shares of GMRE opened at $34.20 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $45.75. The firm’s 50-day moving average price is $34.30 and its 200-day moving average price is $34.17. The firm has a market capitalization of $458.61 million, a price-to-earnings ratio of -136.80 and a beta of 1.18.

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

Global Medical REIT Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s dividend payout ratio is presently -1,200.00%.

Insider Transactions at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. acquired 10,000 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was acquired at an average price of $32.58 per share, for a total transaction of $325,800.00. Following the completion of the acquisition, the chief executive officer owned 44,774 shares in the company, valued at $1,458,736.92. This trade represents a 28.76% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 8.50% of the company’s stock.

About Global Medical REIT

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.