Gabelli Funds LLC Has $2.75 Million Stock Position in Global Medical REIT Inc. $GMRE

Gabelli Funds LLC cut its holdings in Global Medical REIT Inc. (NYSE:GMRE) by 80.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 81,648 shares of the company’s stock after selling 326,596 shares during the quarter. Gabelli Funds LLC owned 0.61% of Global Medical REIT worth $2,752,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of GMRE. Invesco Ltd. grew its position in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after buying an additional 355,355 shares during the period. Marshall Wace LLP increased its stake in shares of Global Medical REIT by 2,208.2% in the 2nd 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. Heartland Advisors Inc. acquired a new position in shares of Global Medical REIT during the 3rd quarter valued at $5,147,000. AXA S.A. acquired a new position in shares of Global Medical REIT during the 2nd quarter valued at $1,016,000. Finally, Peregrine Capital Management LLC bought a new position in Global Medical REIT during the third quarter worth $4,785,000. 57.52% of the stock is currently owned by institutional investors.

Global Medical REIT Stock Down 0.1%

GMRE opened at $35.96 on Wednesday. Global Medical REIT Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $45.75. The firm has a market capitalization of $482.22 million, a P/E ratio of -143.84 and a beta of 1.18. The company’s 50-day moving average is $35.58 and its 200 day moving average is $34.47. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52.

Analysts Set New Price Targets

GMRE has been the subject of a number of research reports. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, January 21st. Robert W. Baird dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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.