Cascade Investment Group Inc. Has $261,000 Stock Position in Global Medical REIT Inc. $GMRE

Cascade Investment Group Inc. cut its stake in Global Medical REIT Inc. (NYSE:GMRE) by 80.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,749 shares of the company’s stock after selling 30,996 shares during the quarter. Cascade Investment Group Inc.’s holdings in Global Medical REIT were worth $261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GMRE. AQR Capital Management LLC raised its stake in shares of Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after acquiring an additional 5,062 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after purchasing an additional 23,920 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Global Medical REIT by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after purchasing an additional 45,243 shares during the last quarter. Strs Ohio acquired a new position in Global Medical REIT in the first quarter worth $95,000. Finally, State of Alaska Department of Revenue grew its holdings in shares of Global Medical REIT by 5.1% during the second quarter. State of Alaska Department of Revenue now owns 30,876 shares of the company’s stock worth $213,000 after purchasing an additional 1,510 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 10,000 shares of Global Medical REIT stock in a transaction on Friday, November 14th. The shares were purchased at an average cost of $32.58 per share, for a total transaction of $325,800.00. Following the completion of the acquisition, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. The trade was a 28.76% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 8.50% of the company’s stock.

Global Medical REIT Stock Performance

Shares of GMRE stock opened at $36.24 on Tuesday. The stock has a market cap of $485.98 million, a PE ratio of -144.96 and a beta of 1.18. The stock has a 50-day moving average of $33.81 and a 200-day moving average of $34.19. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $45.75.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.12 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.07. Global Medical REIT had a net margin of 0.79% and a return on equity of 0.25%. The business had revenue of $37.23 million for the quarter, compared to analyst estimates of $38.15 million. Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Friday, December 19th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 8.3%. The ex-dividend date of this dividend was Friday, December 19th. Global Medical REIT’s dividend payout ratio (DPR) is presently -1,200.00%.

Wall Street Analyst Weigh In

GMRE has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Global Medical REIT in a report on Monday, December 29th. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Citizens Jmp raised 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 note on Monday, October 13th. Zacks Research upgraded shares of Global Medical REIT from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Finally, JMP Securities set a $40.00 price objective on Global Medical REIT and gave the stock a “market outperform” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Global Medical REIT 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.