Teachers Insurance & Annuity Association of America Acquires 7,627 Shares of Global Medical REIT (GMRE)

Teachers Insurance & Annuity Association of America boosted its holdings in shares of Global Medical REIT (NYSE:GMRE) by 53.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,950 shares of the company’s stock after acquiring an additional 7,627 shares during the period. Teachers Insurance & Annuity Association of America owned 0.10% of Global Medical REIT worth $153,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC raised its holdings in Global Medical REIT by 67.2% in the fourth quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after buying an additional 8,624 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Global Medical REIT by 21.9% in the third quarter. Wells Fargo & Company MN now owns 32,681 shares of the company’s stock worth $294,000 after buying an additional 5,862 shares during the last quarter. Citadel Advisors LLC purchased a new position in Global Medical REIT in the fourth quarter worth about $421,000. Jane Street Group LLC purchased a new position in Global Medical REIT in the fourth quarter worth about $492,000. Finally, Rational Advisors LLC purchased a new position in Global Medical REIT in the fourth quarter worth about $614,000. 40.35% of the stock is owned by institutional investors.

Shares of GMRE stock opened at $8.38 on Friday. Global Medical REIT has a 52 week low of $6.34 and a 52 week high of $10.25. The company has a market capitalization of $182.35 million, a PE ratio of 15.52, a P/E/G ratio of 1.16 and a beta of 0.34. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.17 and a quick ratio of 0.17.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.02). Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%. The company had revenue of $11.56 million during the quarter, compared to the consensus estimate of $11.50 million. equities research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal year.

GMRE has been the subject of several recent analyst reports. DA Davidson raised shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 target price for the company in a report on Wednesday, March 28th. B. Riley reaffirmed a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 8th. Zacks Investment Research raised shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Wednesday, February 21st. Cantor Fitzgerald initiated coverage on shares of Global Medical REIT in a report on Wednesday, March 7th. They issued a “buy” rating and a $12.00 target price for the company. Finally, TheStreet lowered shares of Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $10.05.

In related news, Chairman Jeffrey Busch purchased 6,000 shares of Global Medical REIT stock in a transaction dated Tuesday, March 13th. The stock was purchased at an average cost of $7.13 per share, for a total transaction of $42,780.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 13.00% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.

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Institutional Ownership by Quarter for Global Medical REIT (NYSE:GMRE)

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