State of Alaska Department of Revenue Lowers Holdings in Global Medical REIT Inc. $GMRE

State of Alaska Department of Revenue reduced its stake in shares of Global Medical REIT Inc. (NYSE:GMRE) by 77.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,989 shares of the company’s stock after selling 23,887 shares during the quarter. State of Alaska Department of Revenue owned about 0.05% of Global Medical REIT worth $234,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Peregrine Capital Management LLC bought a new stake in Global Medical REIT in the 3rd quarter valued at $4,785,000. Fox Run Management L.L.C. purchased a new stake in shares of Global Medical REIT in the second quarter worth about $183,000. EMC Capital Management boosted its stake in Global Medical REIT by 457.0% during the second quarter. EMC Capital Management now owns 12,654 shares of the company’s stock valued at $88,000 after buying an additional 10,382 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Global Medical REIT by 2.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,000 shares of the company’s stock valued at $610,000 after buying an additional 2,500 shares in the last quarter. Finally, Royal Fund Management LLC increased its stake in Global Medical REIT by 22.1% in the 2nd quarter. Royal Fund Management LLC now owns 110,805 shares of the company’s stock worth $768,000 after acquiring an additional 20,086 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 GMRE stock opened at $35.58 on Friday. The stock has a 50 day moving average price of $34.02 and a 200 day moving average price of $34.21. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $45.75. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $477.14 million, a P/E ratio of -142.32 and a beta of 1.18.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The business had revenue of $37.23 million for the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 0.81 earnings per share for the current year.

Global Medical REIT Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were issued a dividend of $0.75 per share. The ex-dividend date was Friday, December 19th. This represents a $3.00 dividend on an annualized basis and a yield of 8.4%. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Wall Street Analysts Forecast Growth

GMRE has been the topic of several research reports. Citizens Jmp upgraded shares of Global Medical REIT from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Monday, October 13th. Citigroup raised shares of Global Medical REIT to an “outperform” rating in a research note on Monday, October 13th. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday. JMP Securities set a $40.00 price target on Global Medical REIT and gave the stock a “market outperform” rating in a research report on Monday, October 13th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Global Medical REIT has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Insider Transactions at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were acquired at an average cost of $32.58 per share, for a total transaction of $325,800.00. Following the purchase, the chief executive officer directly owned 44,774 shares of the company’s stock, valued at approximately $1,458,736.92. The trade was a 28.76% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.50% of the stock is currently owned by company insiders.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.