Mitsubishi UFJ Asset Management Co. Ltd. Grows Stock Position in Global Medical REIT Inc. (NYSE:GMRE)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Global Medical REIT Inc. (NYSE:GMRE) by 33.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 50,176 shares of the company’s stock after purchasing an additional 12,520 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of Global Medical REIT worth $439,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GMRE. Vanguard Group Inc. increased its holdings in Global Medical REIT by 1.3% in the first quarter. Vanguard Group Inc. now owns 6,400,340 shares of the company’s stock valued at $56,003,000 after buying an additional 82,503 shares in the last quarter. Geode Capital Management LLC boosted its position in Global Medical REIT by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company’s stock worth $12,724,000 after acquiring an additional 25,820 shares during the last quarter. Brown Advisory Inc. boosted its position in Global Medical REIT by 21.3% during the first quarter. Brown Advisory Inc. now owns 1,616,524 shares of the company’s stock worth $14,145,000 after acquiring an additional 283,581 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Global Medical REIT by 10.3% during the first quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company’s stock worth $13,564,000 after acquiring an additional 144,671 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Global Medical REIT by 11.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company’s stock valued at $9,728,000 after purchasing an additional 128,449 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on GMRE shares. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Robert W. Baird cut their price objective on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $10.44.

Global Medical REIT Trading Up 0.7%

Shares of NYSE:GMRE opened at $6.78 on Thursday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.56. The company has a 50 day moving average of $6.77 and a 200-day moving average of $7.42. Global Medical REIT Inc. has a twelve month low of $6.05 and a twelve month high of $10.46. The firm has a market cap of $453.45 million, a P/E ratio of 96.86, a P/E/G ratio of 1.15 and a beta of 1.15.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Global Medical REIT had a net margin of 7.32% and a return on equity of 2.21%. The business had revenue of $37.88 million for the quarter, compared to analyst estimates of $35.57 million. As a group, analysts anticipate that Global Medical REIT Inc. will post 0.81 earnings per share for the current fiscal year.

Global Medical REIT Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Shareholders of record on Friday, June 20th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 8.8%. Global Medical REIT’s dividend payout ratio is 857.14%.

Global Medical REIT declared that its board has approved a share repurchase program on Wednesday, August 13th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 11.1% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 57,332 shares of the stock in a transaction dated Wednesday, June 25th. The shares were bought at an average cost of $6.50 per share, with a total value of $372,658.00. Following the completion of the transaction, the chief executive officer owned 160,000 shares in the company, valued at $1,040,000. This trade represents a 55.84% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.50% of the stock is owned by corporate insiders.

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.