Hudson Bay Capital Management LP Reduces Stock Holdings in Global Medical REIT Inc. (NYSE:GMRE)

Hudson Bay Capital Management LP reduced its stake in Global Medical REIT Inc. (NYSE:GMRE) by 18.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,225,089 shares of the company’s stock after selling 274,911 shares during the period. Hudson Bay Capital Management LP’s holdings in Global Medical REIT were worth $9,458,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its stake in 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 purchasing an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Global Medical REIT by 58.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after acquiring an additional 2,301 shares during the last quarter. Corton Capital Inc. purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $85,000. KLP Kapitalforvaltning AS purchased a new position in shares of Global Medical REIT during the fourth quarter worth approximately $91,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Global Medical REIT by 16.8% during the fourth 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. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GMRE. Robert W. Baird lowered their target price on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a research report on Thursday. 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 target price on the stock.

Global Medical REIT Stock Performance

NYSE:GMRE opened at $6.83 on Monday. The firm’s fifty day moving average price is $8.00 and its 200 day moving average price is $8.22. Global Medical REIT Inc. has a 1-year low of $6.75 and a 1-year high of $10.46. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The firm has a market cap of $456.73 million, a price-to-earnings ratio of -341.33, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Wednesday, May 7th. The company reported $0.22 EPS for the quarter, hitting the consensus estimate of $0.22. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $35.49 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. On average, sell-side analysts expect that Global Medical REIT Inc. will post 0.81 EPS for the current year.

Global Medical REIT Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 9th. Shareholders of record on Friday, March 21st were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 21st. This represents a $0.84 annualized dividend and a dividend yield of 12.30%. Global Medical REIT’s payout ratio is currently 8,400.00%.

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.