Hodges Capital Management Inc. Buys 8,500 Shares of Global Medical REIT Inc. (NYSE:GMRE)

Hodges Capital Management Inc. increased its stake in Global Medical REIT Inc. (NYSE:GMRE) by 37.8% in the 4th quarter, Holdings Channel reports. The fund owned 31,000 shares of the company’s stock after buying an additional 8,500 shares during the quarter. Hodges Capital Management Inc.’s holdings in Global Medical REIT were worth $239,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Global Medical REIT by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 872,996 shares of the company’s stock valued at $7,927,000 after purchasing an additional 6,676 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Global Medical REIT by 71.1% in the second quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock worth $1,715,000 after buying an additional 78,528 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Global Medical REIT by 7.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 48,186 shares of the company’s stock valued at $438,000 after buying an additional 3,471 shares during the last quarter. SG Americas Securities LLC boosted its position in Global Medical REIT by 90.1% during the 3rd quarter. SG Americas Securities LLC now owns 22,700 shares of the company’s stock valued at $225,000 after buying an additional 10,759 shares during the period. Finally, Royal Fund Management LLC grew its holdings in Global Medical REIT by 89.7% in the 3rd quarter. Royal Fund Management LLC now owns 148,164 shares of the company’s stock worth $1,469,000 after acquiring an additional 70,066 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Price Performance

Shares of NYSE:GMRE opened at $7.88 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.28 and a current ratio of 0.28. The firm has a market cap of $526.05 million, a price-to-earnings ratio of -393.55, a price-to-earnings-growth ratio of 1.33 and a beta of 1.24. The business has a 50-day simple moving average of $8.11 and a two-hundred day simple moving average of $8.91. Global Medical REIT Inc. has a fifty-two week low of $7.33 and a fifty-two week high of $10.46.

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

Global Medical REIT Announces Dividend

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

Wall Street Analyst Weigh In

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

Global Medical REIT Profile

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.