Global Medical REIT Inc (NYSE:GMRE) Short Interest Update

Global Medical REIT Inc (NYSE:GMRE) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totalling 389,500 shares, a drop of 18.3% from the June 30th total of 476,600 shares. Based on an average daily trading volume, of 282,600 shares, the days-to-cover ratio is presently 1.4 days. Approximately 2.6% of the shares of the company are sold short.

GMRE stock traded up $0.12 during mid-day trading on Tuesday, hitting $10.69. The stock had a trading volume of 265,400 shares, compared to its average volume of 306,390. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.08 and a quick ratio of 0.08. Global Medical REIT has a 52 week low of $8.15 and a 52 week high of $11.51. The stock has a market capitalization of $357.52 million, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.54 and a beta of 0.41. The stock’s fifty day moving average is $10.49.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Wednesday, August 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.16). Global Medical REIT had a net margin of 24.11% and a return on equity of 6.25%. The firm had revenue of $16.88 million during the quarter, compared to the consensus estimate of $16.74 million. As a group, analysts anticipate that Global Medical REIT will post 0.75 earnings per share for the current year.

A number of research firms have recently issued reports on GMRE. Stifel Nicolaus began coverage on shares of Global Medical REIT in a research note on Monday, April 15th. They set a “buy” rating and a $11.00 target price for the company. ValuEngine cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. TheStreet cut shares of Global Medical REIT from a “b” rating to a “c+” rating in a research note on Thursday, August 8th. Boenning Scattergood reaffirmed a “buy” rating and set a $11.00 price target on shares of Global Medical REIT in a research report on Friday, May 10th. Finally, Zacks Investment Research raised shares of Global Medical REIT from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.67.

A number of hedge funds have recently added to or reduced their stakes in GMRE. Financial Advantage Inc. acquired a new stake in shares of Global Medical REIT in the 1st quarter valued at approximately $31,000. Daiwa Securities Group Inc. boosted its position in Global Medical REIT by 100.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock worth $37,000 after buying an additional 1,900 shares during the period. BNP Paribas Arbitrage SA boosted its position in Global Medical REIT by 639.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,782 shares of the company’s stock worth $47,000 after buying an additional 4,135 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Global Medical REIT by 64.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,746 shares of the company’s stock worth $60,000 after buying an additional 2,245 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in Global Medical REIT by 19.9% during the 1st quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock worth $72,000 after buying an additional 1,229 shares during the period. 53.63% of the stock is currently owned by hedge funds and other institutional investors.

About Global Medical REIT

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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