Clearbridge Investments LLC Has $3.81 Million Position in Global Medical REIT Inc. (NYSE:GMRE)

Posted by Defense World Staff on May 28th, 2023

Clearbridge Investments LLC grew its position in Global Medical REIT Inc. (NYSE:GMRE – Get Rating) by 29.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 401,753 shares of the company’s stock after buying an additional 90,800 shares during the quarter. Clearbridge Investments LLC owned 0.61% of Global Medical REIT worth $3,809,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Global Medical REIT by 50.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 287,624 shares of the company’s stock valued at $2,727,000 after purchasing an additional 96,010 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Global Medical REIT during the 3rd quarter worth approximately $204,000. Financial Advocates Investment Management bought a new stake in Global Medical REIT during the 3rd quarter worth approximately $465,000. Royal Fund Management LLC grew its holdings in Global Medical REIT by 13.5% during the 4th quarter. Royal Fund Management LLC now owns 71,200 shares of the company’s stock worth $675,000 after acquiring an additional 8,459 shares during the last quarter. Finally, Phocas Financial Corp. grew its holdings in Global Medical REIT by 19.8% during the 4th quarter. Phocas Financial Corp. now owns 818,272 shares of the company’s stock worth $7,757,000 after acquiring an additional 135,396 shares during the last quarter. 65.08% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Trading Up 3.1 %

NYSE:GMRE opened at $8.35 on Friday. The firm’s fifty day moving average is $8.94 and its 200-day moving average is $9.65. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.20 and a current ratio of 0.20. Global Medical REIT Inc. has a 52 week low of $7.01 and a 52 week high of $13.22. The firm has a market cap of $547.18 million, a P/E ratio of 49.12, a P/E/G ratio of 1.18 and a beta of 1.07.

Global Medical REIT Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 11th. Investors of record on Friday, March 24th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, March 23rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 10.06%. Global Medical REIT’s payout ratio is presently 494.12%.

Analysts Set New Price Targets

A number of research firms have weighed in on GMRE. Stifel Nicolaus reduced their target price on shares of Global Medical REIT from $13.00 to $11.00 in a report on Thursday, May 4th. StockNews.com initiated coverage on shares of Global Medical REIT in a report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, B. Riley reduced their price objective on shares of Global Medical REIT from $12.00 to $11.00 in a research note on Monday, May 8th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $13.00.

Global Medical REIT Profile

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