Nomura Asset Management Co. Ltd. Invests $120,000 in Global Medical REIT Inc (GMRE) Stock

Nomura Asset Management Co. Ltd. purchased a new stake in shares of Global Medical REIT Inc (NYSE:GMRE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 13,400 shares of the company’s stock, valued at approximately $120,000. Nomura Asset Management Co. Ltd. owned 0.06% of Global Medical REIT at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. B. Riley Financial Inc. acquired a new position in shares of Global Medical REIT during the third quarter worth about $229,000. Stifel Financial Corp acquired a new position in shares of Global Medical REIT during the third quarter worth about $1,007,000. BB&T Securities LLC lifted its stake in shares of Global Medical REIT by 23.1% during the third quarter. BB&T Securities LLC now owns 91,487 shares of the company’s stock worth $821,000 after purchasing an additional 17,145 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Global Medical REIT by 21.9% during the third quarter. Wells Fargo & Company MN now owns 32,681 shares of the company’s stock worth $294,000 after purchasing an additional 5,862 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Global Medical REIT by 36.0% in the third quarter. D.A. Davidson & CO. now owns 104,430 shares of the company’s stock worth $937,000 after acquiring an additional 27,667 shares in the last quarter. 41.00% of the stock is owned by hedge funds and other institutional investors.

Several research firms recently commented on GMRE. B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a research note on Wednesday, November 1st. FBR & Co reiterated a “buy” rating and issued a $10.50 price target (up previously from $10.00) on shares of Global Medical REIT in a research note on Monday, September 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price target on shares of Global Medical REIT in a research note on Friday, September 1st. DA Davidson cut Global Medical REIT from a “buy” rating to a “neutral” rating and cut their price target for the stock from $11.00 to $10.00 in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research upgraded Global Medical REIT from a “sell” rating to a “hold” rating and set a $10.00 price objective on the stock in a research note on Tuesday, November 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Global Medical REIT currently has a consensus rating of “Buy” and a consensus price target of $10.60.

Shares of Global Medical REIT Inc (NYSE GMRE) opened at $8.60 on Tuesday. Global Medical REIT Inc has a one year low of $7.85 and a one year high of $10.25. The stock has a market capitalization of $178.45, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 2.67 and a beta of -0.18. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 9.30%. The ex-dividend date of this dividend is Friday, December 22nd. Global Medical REIT’s payout ratio is currently -296.30%.

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Global Medical REIT Company Profile

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

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