Teachers Insurance & Annuity Association of America Lowers Stake in Global Medical REIT Inc (NYSE:GMRE)

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Teachers Insurance & Annuity Association of America cut its position in shares of Global Medical REIT Inc (NYSE:GMRE) by 47.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,085 shares of the company’s stock after selling 9,959 shares during the quarter. Teachers Insurance & Annuity Association of America’s holdings in Global Medical REIT were worth $116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D boosted its position in shares of Global Medical REIT by 3.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 682,143 shares of the company’s stock worth $7,163,000 after acquiring an additional 25,000 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Global Medical REIT in the first quarter worth approximately $6,569,000. Wells Fargo & Company MN boosted its position in shares of Global Medical REIT by 439.1% in the second quarter. Wells Fargo & Company MN now owns 603,779 shares of the company’s stock worth $6,340,000 after acquiring an additional 491,778 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its position in shares of Global Medical REIT by 0.4% in the second quarter. Pacific Ridge Capital Partners LLC now owns 483,337 shares of the company’s stock worth $5,075,000 after acquiring an additional 1,693 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Global Medical REIT by 7.1% in the second quarter. Northern Trust Corp now owns 287,453 shares of the company’s stock worth $3,018,000 after acquiring an additional 19,099 shares during the last quarter. Institutional investors and hedge funds own 46.99% of the company’s stock.

Several research firms recently issued reports on GMRE. ValuEngine cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet cut shares of Global Medical REIT from a “b” rating to a “c+” rating in a research report on Thursday, August 8th. Finally, Zacks Investment Research raised shares of Global Medical REIT from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $10.67.

GMRE stock traded up $0.09 during midday trading on Friday, reaching $10.92. 4,441 shares of the company’s stock traded hands, compared to its average volume of 190,058. The company has a market capitalization of $382.29 million, a P/E ratio of 14.05 and a beta of 0.38. The company has a debt-to-equity ratio of 1.13, a current ratio of 0.14 and a quick ratio of 0.14. Global Medical REIT Inc has a fifty-two week low of $8.15 and a fifty-two week high of $11.51. The business has a 50-day moving average price of $10.63 and a two-hundred day moving average price of $10.44.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.16). The business had revenue of $16.88 million for the quarter, compared to analyst estimates of $16.74 million. Global Medical REIT had a net margin of 24.11% and a return on equity of 5.91%. As a group, research analysts forecast that Global Medical REIT Inc will post 0.74 earnings per share for the current fiscal year.

In other Global Medical REIT news, Director Ronald Marston purchased 3,000 shares of Global Medical REIT stock in a transaction on Monday, August 26th. The shares were purchased at an average cost of $10.70 per share, with a total value of $32,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.70% of the company’s stock.

About Global Medical REIT

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. 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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