Orinda Asset Management LLC Has $894,000 Stake in Global Medical REIT Inc (NASDAQ:GMRE)

Orinda Asset Management LLC raised its position in shares of Global Medical REIT Inc (NASDAQ:GMRE) by 100.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,000 shares of the company’s stock after buying an additional 50,000 shares during the period. Orinda Asset Management LLC’s holdings in Global Medical REIT were worth $894,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its position in shares of Global Medical REIT by 105.7% in the fourth quarter. State Street Corp now owns 222,290 shares of the company’s stock valued at $1,983,000 after buying an additional 114,242 shares in the last quarter. ICM Asset Management Inc. WA increased its position in shares of Global Medical REIT by 13.8% in the fourth quarter. ICM Asset Management Inc. WA now owns 180,715 shares of the company’s stock valued at $1,612,000 after buying an additional 21,980 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Global Medical REIT by 37.5% in the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock valued at $197,000 after buying an additional 6,018 shares in the last quarter. Manning & Napier Advisors LLC increased its position in shares of Global Medical REIT by 9.3% in the first quarter. Manning & Napier Advisors LLC now owns 519,760 shares of the company’s stock valued at $4,718,000 after buying an additional 44,010 shares in the last quarter. Finally, Dubuque Bank & Trust Co. increased its position in shares of Global Medical REIT by 10.3% in the first quarter. Dubuque Bank & Trust Co. now owns 161,447 shares of the company’s stock valued at $1,466,000 after buying an additional 15,059 shares in the last quarter.

Shares of Global Medical REIT Inc (GMRE) traded up 2.39% during mid-day trading on Friday, hitting $8.99. 70,788 shares of the stock traded hands. The firm has a 50 day moving average of $9.13 and a 200 day moving average of $9.04. Global Medical REIT Inc has a 12 month low of $6.73 and a 12 month high of $11.24.

Global Medical REIT (NASDAQ:GMRE) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by $0.17. The business had revenue of $7.42 million for the quarter, compared to analyst estimates of $6.16 million. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. Analysts predict that Global Medical REIT Inc will post ($0.09) earnings per share for the current fiscal year.

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GMRE has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Global Medical REIT from a “sell” rating to a “buy” rating and set a $11.00 target price for the company in a report on Wednesday, May 10th. FBR & Co reiterated an “outperform” rating and issued a $10.00 price target on shares of Global Medical REIT in a research note on Tuesday, July 11th. Finally, TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $10.67.

In other Global Medical REIT news, Chairman Jeffrey Busch purchased 11,100 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were purchased at an average cost of $9.00 per share, for a total transaction of $99,900.00. Following the completion of the transaction, the chairman now owns 20,110 shares of the company’s stock, valued at approximately $180,990. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

About Global Medical REIT

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

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

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