Silver Capital Management LLC acquired a new stake in Global Medical REIT Inc (NASDAQ:GMRE) during the third quarter, according to its most recent disclosure with the SEC. The firm acquired 39,893 shares of the company’s stock, valued at approximately $390,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Argent Trust Co bought a new position in Global Medical REIT during the second quarter valued at about $104,000. Prudential Financial Inc. bought a new position in Global Medical REIT during the second quarter valued at about $106,000. Emerald Mutual Fund Advisers Trust raised its position in Global Medical REIT by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 394,420 shares of the company’s stock valued at $3,850,000 after buying an additional 11,310 shares in the last quarter. First Dallas Securities Inc. bought a new position in Global Medical REIT during the second quarter valued at about $121,000. Finally, Deprince Race & Zollo Inc. bought a new position in Global Medical REIT during the second quarter valued at about $202,000.
Shares of Global Medical REIT Inc (NASDAQ:GMRE) opened at 8.91 on Wednesday. Global Medical REIT Inc has a 52 week low of $6.73 and a 52 week high of $11.38. The stock has a 50 day moving average price of $8.95 and a 200-day moving average price of $9.52.
Global Medical REIT (NASDAQ:GMRE) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.02. The company earned $2 million during the quarter, compared to analyst estimates of $2.40 million. On average, equities research analysts forecast that Global Medical REIT Inc will post ($0.59) EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Tuesday, December 27th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, December 22nd. This represents a $0.80 annualized dividend and a dividend yield of 8.98%.
Several research firms have issued reports on GMRE. Zacks Investment Research lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, November 15th. DA Davidson set a $12.00 target price on Global Medical REIT and gave the company a “buy” rating in a research note on Thursday, November 10th. Finally, Wunderlich lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Global Medical REIT has a consensus rating of “Hold” and an average target price of $11.65.
About Global Medical REIT
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.
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