Global Medical REIT Inc (NASDAQ:GMRE) shares dropped 2.4% on Tuesday . The stock traded as low as $10.06 and last traded at $10.18, with a volume of 136,772 shares traded. The stock had previously closed at $10.43.

GMRE has been the topic of several recent research reports. BB&T Corp. initiated coverage on Global Medical REIT in a research report on Monday, July 11th. They set a “hold” rating and a $10.50 price objective on the stock. Oppenheimer Holdings Inc. initiated coverage on Global Medical REIT in a research report on Monday, July 25th. They set an “outperform” rating and a $12.00 price objective on the stock. Compass Point cut Global Medical REIT from a “buy” rating to a “neutral” rating in a research report on Tuesday. Wunderlich began coverage on Global Medical REIT in a report on Monday, July 11th. They set a “buy” rating and a $11.75 target price on the stock. Finally, DA Davidson began coverage on Global Medical REIT in a report on Tuesday, July 26th. They set a “buy” rating and a $12.00 target price on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.65.

The stock has a 50 day moving average of $10.62 and a 200-day moving average of $10.55. The company’s market cap is $178.69 million.

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The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 11th. Investors of record on Tuesday, September 27th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $0.80 annualized dividend and a dividend yield of 7.88%.

In related news, major shareholder Zh Usa, Llc bought 1,179,019 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average price of $12.75 per share, with a total value of $15,032,492.25. Following the completion of the transaction, the insider now directly owns 2,604,500 shares in the company, valued at $33,207,375. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Jeffrey Busch bought 9,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The shares were bought at an average cost of $10.01 per share, for a total transaction of $90,090.00. Following the transaction, the chairman now owns 9,000 shares of the company’s stock, valued at $90,090. The disclosure for this purchase can be found here.

A number of hedge funds and other institutional investors have recently bought and sold shares of GMRE. Argent Trust Co acquired a new position in Global Medical REIT during the second quarter valued at $104,000. Prudential Financial Inc. acquired a new position in Global Medical REIT during the second quarter valued at $106,000. First Dallas Securities Inc. acquired a new position in Global Medical REIT during the second quarter valued at $121,000. Fortaleza Asset Management Inc. acquired a new position in Global Medical REIT during the second quarter valued at $123,000. Finally, Thompson Davis & CO. Inc. acquired a new position in Global Medical REIT during the second quarter valued at $152,000.

Global Medical REIT Company Profile

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

5 Day Chart for NASDAQ:GMRE

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