Global Medical REIT Inc. $GMRE Stock Position Lowered by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 80.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,034 shares of the company’s stock after selling 40,142 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.07% of Global Medical REIT worth $338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Fifth Third Bancorp acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $35,000. New York State Teachers Retirement System purchased a new stake in shares of Global Medical REIT during the third quarter worth $39,000. Tower Research Capital LLC TRC lifted its holdings in shares of 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 valued at $51,000 after buying an additional 3,046 shares during the last quarter. Metis Global Partners LLC bought a new stake in Global Medical REIT in the second quarter worth approximately $72,000. Finally, B. Riley Wealth Advisors Inc. acquired a new position in Global Medical REIT during the second quarter worth $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $35.96 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. The company has a market cap of $482.22 million, a PE ratio of -143.84 and a beta of 1.18. The firm has a fifty day moving average price of $35.38 and a two-hundred day moving average price of $34.45. Global Medical REIT Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $45.75.

Wall Street Analyst Weigh In

GMRE has been the topic of a number of research analyst reports. Robert W. Baird lowered 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 research note on Tuesday, November 11th. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Global Medical REIT Company 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.