Global Medical REIT Inc. (NYSE:GMRE) CEO Mark Okey Decker, Jr. Acquires 102,668 Shares

Global Medical REIT Inc. (NYSE:GMRE) CEO Mark Okey Decker, Jr. purchased 102,668 shares of the stock in a transaction on Tuesday, June 24th. The shares were purchased at an average price of $6.52 per share, for a total transaction of $669,395.36. Following the transaction, the chief executive officer now directly owns 102,668 shares of the company’s stock, valued at approximately $669,395.36. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $6.49 on Thursday. The firm has a fifty day simple moving average of $6.81 and a two-hundred day simple moving average of $7.66. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 1.44. Global Medical REIT Inc. has a twelve month low of $6.06 and a twelve month high of $10.46. The company has a market capitalization of $433.99 million, a PE ratio of 216.41, a P/E/G ratio of 1.12 and a beta of 1.14.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The firm had revenue of $34.60 million for the quarter, compared to the consensus estimate of $35.49 million. Global Medical REIT had a return on equity of 1.68% and a net margin of 5.87%. Research analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 9.24%. Global Medical REIT’s dividend payout ratio (DPR) is currently 2,000.00%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GMRE shares. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Robert W. Baird cut their target price on Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Thursday, May 8th. Finally, B. Riley began coverage on shares of Global Medical REIT in a research report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price target on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.44.

Institutional Trading of Global Medical REIT

A number of institutional investors have recently made changes to their positions in the stock. Cutler Capital Management LLC increased its stake in shares of Global Medical REIT by 0.3% in the fourth quarter. Cutler Capital Management LLC now owns 450,279 shares of the company’s stock worth $3,476,000 after buying an additional 1,376 shares during the period. Legal & General Group Plc boosted its position in Global Medical REIT by 2.5% during the 4th quarter. Legal & General Group Plc now owns 61,525 shares of the company’s stock valued at $475,000 after buying an additional 1,496 shares during the period. Commonwealth Equity Services LLC grew its holdings in Global Medical REIT by 16.8% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock worth $98,000 after acquiring an additional 1,819 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after acquiring an additional 2,301 shares during the period. Finally, Quarry LP increased its position in shares of Global Medical REIT by 111.5% in the fourth quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after acquiring an additional 2,604 shares during the period. Hedge funds and other 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.