Global Medical REIT Inc. (NYSE:GMRE) Short Interest Up 8.6% in January

Global Medical REIT Inc. (NYSE:GMRE) was the target of a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,140,000 shares, an increase of 8.6% from the December 31st total of 1,050,000 shares. Based on an average daily trading volume, of 444,500 shares, the days-to-cover ratio is currently 2.6 days.

Analyst Ratings Changes

Separately, Berenberg Bank initiated coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price objective for the company.

Global Medical REIT Stock Performance

GMRE opened at $7.88 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. Global Medical REIT has a 1-year low of $7.33 and a 1-year high of $10.46. The company has a 50-day moving average of $8.11 and a 200-day moving average of $8.91.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.18). Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The firm had revenue of $34.26 million for the quarter, compared to analyst estimates of $34.88 million. During the same period last year, the firm earned $0.23 earnings per share. As a group, analysts forecast that Global Medical REIT will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.84 annualized dividend and a yield of 10.67%. Global Medical REIT’s dividend payout ratio is -4,197.90%.

Institutional Investors Weigh In On Global Medical REIT

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in Global Medical REIT by 54.3% in the third quarter. JPMorgan Chase & Co. now owns 231,927 shares of the company’s stock worth $2,298,000 after purchasing an additional 81,596 shares during the period. Franklin Resources Inc. grew its stake in Global Medical REIT by 228.9% during the third quarter. Franklin Resources Inc. now owns 114,988 shares of the company’s stock worth $1,073,000 after purchasing an additional 80,030 shares during the period. AQR Capital Management LLC increased its position in shares of Global Medical REIT by 71.1% during the second quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock worth $1,715,000 after acquiring an additional 78,528 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Global Medical REIT by 158.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 120,614 shares of the company’s stock valued at $1,195,000 after purchasing an additional 73,965 shares during the period. Finally, Barclays PLC lifted its stake in shares of Global Medical REIT by 87.1% during the 3rd quarter. Barclays PLC now owns 154,051 shares of the company’s stock valued at $1,527,000 after buying an additional 71,704 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

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.