Global Medical REIT Inc (GMRE) Shares Sold by Pacific Ridge Capital Partners LLC

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Pacific Ridge Capital Partners LLC cut its holdings in shares of Global Medical REIT Inc (NYSE:GMRE) by 10.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,874 shares of the company’s stock after selling 44,585 shares during the period. Pacific Ridge Capital Partners LLC owned about 1.76% of Global Medical REIT worth $3,654,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its position in Global Medical REIT by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 190,096 shares of the company’s stock valued at $1,791,000 after buying an additional 5,543 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Global Medical REIT by 32.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock valued at $334,000 after buying an additional 9,200 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Global Medical REIT by 15.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 69,486 shares of the company’s stock valued at $655,000 after buying an additional 9,434 shares during the last quarter. BlackRock Inc. boosted its position in Global Medical REIT by 0.9% in the 3rd quarter. BlackRock Inc. now owns 1,020,193 shares of the company’s stock valued at $9,609,000 after buying an additional 9,460 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in Global Medical REIT by 2.3% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 438,000 shares of the company’s stock valued at $4,126,000 after buying an additional 10,000 shares during the last quarter. Hedge funds and other institutional investors own 41.99% of the company’s stock.

GMRE stock opened at $9.71 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market capitalization of $217.85 million, a PE ratio of 13.55, a P/E/G ratio of 1.40 and a beta of 0.52. Global Medical REIT Inc has a twelve month low of $6.34 and a twelve month high of $10.05.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Monday, November 5th. The company reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.22). The company had revenue of $14.00 million during the quarter, compared to analyst estimates of $14.34 million. Global Medical REIT had a net margin of 9.87% and a return on equity of 2.65%. On average, analysts expect that Global Medical REIT Inc will post 0.79 earnings per share for the current fiscal year.

A number of brokerages have commented on GMRE. Boenning Scattergood upgraded Global Medical REIT from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, November 7th. Zacks Investment Research downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Friday, November 9th. Robert W. Baird began coverage on Global Medical REIT in a research note on Thursday, October 11th. They issued an “outperform” rating and a $11.00 price target on the stock. Finally, B. Riley reissued a “buy” rating on shares of Global Medical REIT in a research note on Monday, November 12th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $10.50.

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About Global Medical REIT

Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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