There was a significant rise in the number of short positions taken in Global Medical REIT Inc. during August (NYSE: GMRE). As of August 15th, there were 1,610,000 shares borrowed, an increase of 9.5% compared to 1,470,000 shares borrowed the day before. The current short-interest ratio is 4.0 days, calculated by considering the average daily volume of trading in the market, which was 401,400 shares. Currently, 10.6% of the company’s shares are being traded on the short market in anticipation of their future sale.
Several research experts have been tracking the stock in question and have only recently issued reports on it. On Thursday, July 7th, JMP Securities began monitoring the performance of Global Medical REIT shares. This day falls in July. The evaluation granted the company the “market perform” due to the evaluation. B. Riley’s target price for Global Medical REIT shares dropped from $18.00 to $16.00 due to research that was made public on May 10th. In a research report published on Monday, August 15th, Compass Point lowered their target price on shares of Global Medical REIT to $17.00. This was the most recent and significant bit of information to emerge. As a direct consequence of these alterations, the total number of shares of stock that hedge funds and many other types of institutional investors own in the company has been modified. During the second quarter, Captrust Financial Advisors invested in Global Medical REIT at $43,000. ExodusPoint Capital Management LP’s investment in Global Medical REIT grew by 52.8% during the second quarter due to its decision to raise its stake. ExodusPoint Capital Management LP now has a total of 135,592 shares of the company after purchasing an additional 46,845 shares during the quarter. The value of these shares brings the firm’s investment in the company to a total of $1,523,000. Goldman Sachs Group Inc. increased its holdings of Global Medical REIT equities by 450.4 percent during the second quarter. Goldman Sachs Group Inc. now holds 834,559 shares of the company’s stock, valued at a combined total of $9,372,000, after purchasing an additional 682,943 shares during the quarter.
It brings the company’s total number of shares to a total of 834,559 shares. During the second quarter, the investment portfolio managed by Adelante Capital Management LLC saw a 1.3% increase in the percentage of its holdings that were allocated to Global Medical REIT. After making purchases totaling 10,499 shares over the most recent month, Adelante Capital Management LLC now holds 804,671 shares of its stock in its portfolio. Their shareholdings in the company are currently worth $9,037,000 based on the current market price. Finally, during the second quarter, Meiji Yasuda Asset Management Co. Ltd. boosted the proportion of Global Medical REIT shares held in its portfolio by 63.1%. Following the acquisition of a further 6,562 shares of the company during that period, Meiji Yasuda Asset Management Co., Ltd. now holds a total of 16,959 shares of the company, which are currently valued at a total of $190,000. Institutional investors and hedge funds own 68.60% of the company’s shares. Other shareholders make up the remaining 33.90%.
Trading of GMRE common shares began on Tuesday with an opening price of $11.14 per share. It is now estimated that the firm has a market value of $729.87 million, a price-to-earnings ratio of 58.63, a price-to-earnings-to-growth ratio of 1.49, and a beta value of 0.94. All three of the liquidity ratios, the current ratio, the quick ratio, and the debt-to-equity ratio, all come in at 0.21, while the debt-to-equity ratio is at 1.06. The moving average of the company’s stock price over the previous fifty days is $11.50, while the moving average over the past 200 days is $13.50. The lowest price that Global Medical REIT has been at during the last year is $10.50, while the highest price the business has been at during the past year is $18.51. In addition, the company had just announced a quarterly dividend, which was paid out on July 8th.
On Friday, June 24th, dividend payments of $0.21 per share were made to stockholders who were already registered to receive them. This past Thursday, June 23rd, was the day that shareholders were required to pay the dividend. It equates to a 7.54 percent yield and an annual dividend of $0.84 for the stock. Global Medical REIT has managed to keep its dividend payout ratio at a healthy level of 442.13%. Information about the organization known as “Global Medical REIT” Global Medical REIT, Inc. is a medical office REIT structured as a net lease.
After purchasing assets specifically designed for use in healthcare, the company then rents those assets to the nation’s leading healthcare systems and physician groups.
