Global Medical REIT Inc. (NYSE:GMRE) CEO Mark Okey Decker, Jr. Purchases 57,332 Shares

Global Medical REIT Inc. (NYSE:GMRE) CEO Mark Okey Decker, Jr. acquired 57,332 shares of Global Medical REIT stock in a transaction on Wednesday, June 25th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $372,658.00. Following the completion of the acquisition, the chief executive officer now directly owns 160,000 shares in the company, valued at $1,040,000. This trade represents a 55.84% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Medical REIT Stock Performance

Shares of NYSE:GMRE opened at $6.74 on Friday. The firm has a 50 day moving average of $6.79 and a 200 day moving average of $7.65. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $450.37 million, a price-to-earnings ratio of 224.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.14. Global Medical REIT Inc. has a 52 week low of $6.06 and a 52 week high of $10.46.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $34.60 million during the quarter, compared to analyst estimates of $35.49 million. Global Medical REIT had a return on equity of 1.68% and a net margin of 5.87%. On average, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 8.91%. Global Medical REIT’s dividend payout ratio is presently 2,000.00%.

Institutional Trading of Global Medical REIT

Several hedge funds have recently modified their holdings of the company. Quarry LP grew its position in shares of Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock worth $38,000 after buying an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after acquiring an additional 2,301 shares in the last quarter. GAMMA Investing LLC grew its holdings in Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company’s stock worth $63,000 after purchasing an additional 7,190 shares during the last quarter. State of Wyoming acquired a new position in shares of Global Medical REIT during the first quarter worth $65,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Global Medical REIT during the fourth quarter worth $82,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GMRE. Robert W. Baird lowered their target price on Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a report on Thursday, May 8th. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Finally, B. Riley started coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $10.44.

About Global Medical REIT

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.