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Makkah, a city that sees millions of visitors every year, quietly holds a piece of Hyderabad ’s history that often goes unnoticed. Nestled in the heart of this busy city is the Nizam’s Rubath, a legacy that dates back centuries. Established with the purpose of providing free accommodation for pilgrims traveling from the Deccan region, the Rubath has long been a symbol of Hyderabadi hospitality and philanthropy. Its origins, deeply rooted in the vision of the Nizams, reflect their commitment to supporting their people on this holy journey. The Rubath Nizam Hyderabad in Makkah traces its origins to the mid-19th century during the reign of Afzal-ud-Daula, Asaf Jah V. Recognizing the challenges faced by pilgrims journeying from Hyderabad and surrounding regions to Makkah, the Nizam decided to create a sanctuary for them. While there is no historical evidence to support the number, legend has it that Afzal-ud-Daula established 42 Rubath buildings in 1860 to provide instant relief to those who faced long journeys. Notably, at that time Saudi Arabia was undergoing a financial crisis, as the country had yet to discover the oil reserves that would later transform its economy. The government was struggling to provide adequate facilities to the influx of pilgrims arriving for Hajj. The Nizam’s Rubath proved to be an invaluable resource, offering refuge and much-needed comfort to not only Hyderabadis but visitors from Marathwada and Karnataka. To ensure easy access to the Kaaba, the Rubath was strategically established near the haram. Over time, the Rubath only grew in importance and became a significant symbol of Hyderabad’s connection to Makkah. The Nizam’s Rubath in Makkah today is a blend of tradition and modernity. It continues to be a cornerstone for pilgrims during the Hajj pilgrimage. However, with the expansion of Makkah’s Grand Mosque and urban development, the number of Rubath buildings has significantly decreased and relocated further from the mosque. Today, only three buildings remain with a total capacity of about 1,200 people. Due to the shortage of accommodation, every year a limited number of Hajj pilgrims are selected through a draw. While the property provides modern-day amenities like air conditioning, free WiFi, free laundry, and much more, visitors remain unsatisfied. Speaking to Siasat.com , a doctor from Hyderabad said, “I stayed in the Nizam’s Rubath in Ramadan this year and the management was subpar with issues like maintenance. Though the facilities are decent, they do not reflect the kind of standard one might expect from such an iconic institution.” Another challenge facing Nizam’s Rubath is the expansion of the hospitality industry in Makkah. Despite offering free or subsidized accommodation, Hyderabadi visitors are opting for private hotels that provide better proximity to the Haram, shuttle services, and buffet options, which the Rubath struggles to match. Additionally, online booking platforms have made it easier for pilgrims to secure accommodations tailored to their needs, further reducing reliance on the Rubath. For a young Ruqia Fatima, comfort is the most important when choosing a hotel. “It is fascinating to learn about the Rubath’s history but the practicality of choosing a hotel closer to the Kaaba with better services makes it more appealing which is why I did not opt for the Rubath for my Umrah trip. The lack of information and reviews about the Rubath online also influenced my choice,” she says. It is to be noted that, despite these trends, the Rubath continues to serve as a symbol of Hyderabad’s enduring legacy in Makkah, reflecting a tradition of hospitality that has spanned over a century.
Oppenheimer & Co. Inc. lowered its stake in shares of Global Medical REIT Inc. ( NYSE:GMRE – Free Report ) by 23.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,184 shares of the company’s stock after selling 5,921 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Global Medical REIT were worth $190,000 at the end of the most recent reporting period. A number of other large investors have also added to or reduced their stakes in GMRE. Bank of New York Mellon Corp lifted its stake in shares of Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after acquiring an additional 520,583 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Global Medical REIT by 788.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after acquiring an additional 115,866 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Global Medical REIT by 71.1% in the 2nd quarter. AQR Capital Management LLC now owns 188,931 shares of the company’s stock valued at $1,715,000 after acquiring an additional 78,528 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Global Medical REIT by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 6,213,404 shares of the company’s stock valued at $54,367,000 after acquiring an additional 76,267 shares during the last quarter. Finally, Royal Fund Management LLC lifted its stake in shares of Global Medical REIT by 89.7% in the 3rd quarter. Royal Fund Management LLC now owns 148,164 shares of the company’s stock valued at $1,469,000 after acquiring an additional 70,066 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock. Global Medical REIT Stock Performance NYSE GMRE opened at $8.70 on Friday. The company has a market capitalization of $581.16 million, a price-to-earnings ratio of -434.78, a PEG ratio of 1.50 and a beta of 1.25. Global Medical REIT Inc. has a twelve month low of $7.98 and a twelve month high of $11.59. The stock has a fifty day simple moving average of $9.34 and a 200 day simple moving average of $9.23. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26. Global Medical REIT Dividend Announcement The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Friday, September 20th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, September 20th. This represents a $0.84 dividend on an annualized basis and a yield of 9.66%. Global Medical REIT’s payout ratio is currently -4,197.90%. Analyst Ratings Changes GMRE has been the subject of a number of research reports. Alliance Global Partners initiated coverage on Global Medical REIT in a research note on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target for the company. Berenberg Bank initiated coverage on Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 price target for the company. Read Our Latest Report on Global Medical REIT Global Medical REIT Profile ( Free Report ) Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems. Featured Stories Five stocks we like better than Global Medical REIT Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance Vertiv’s Cool Tech Makes Its Stock Red-Hot What Makes a Stock a Good Dividend Stock? MarketBeat Week in Review – 11/18 – 11/22 What is a Dividend King? 2 Finance Stocks With Competitive Advantages You Can’t Ignore Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter .Vanquishing Bears, Thanksgiving losing streak tops Lions' holiday list
LISBON :Bukayo Saka scored one goal and set up another as Arsenal thrashed Portuguese side Sporting 5-1 in their Champions League clash at the Estadio Jose Alvalade on Tuesday, their biggest away win in the competition in 21 years. Gabriel Martinelli put Arsenal ahead early on before Kai Havertz and Brazilian defender Gabriel added two more goals before halftime as Arsenal overwhelmed their hosts. Goncalo Inacio pulled a goal back for Sporting early in the second period, but Saka restored Arsenal's three-goal advantage with a penalty and Leandro Trossard got a fifth for their biggest away win in the Champions League since victory by the same scoreline at Inter Milan in 2003. Arsenal moved above Sporting to seventh place in the 36-team table with 10 points from their five games. The Portuguese side have the same number of points but are one position back on goal-difference. After a mini-slump in recent weeks, Arsenal have back-to-back wins and look to be finding their best form again with some of their play in Lisbon simply outstanding. They were finding plenty of joy on the right wing and their first two goals both came from attacks down that side. Jurrien Timber’s low cross eluded everyone and provided a tap-in for Martinelli at the back post to put the visitors ahead inside seven minutes. Arsenal continued to set the tempo and deservedly doubled their advantage midway through the first half when Saka burst into the box and poked the ball past Sporting goalkeeper Franco Israel, providing another simple finish for Havertz. Sporting’s lively 17-year-old winger Geovany Quenda forced a good save from Arsenal goalkeeper David Raya just before the break in a rare foray forward for the hosts, but they fell further behind in the final seconds of the half. Defender Gabriel met a Declan Rice corner to head his side further in front and few could argue Arsenal were full value for their 3-0 lead. They would have hoped for a composed start to the second half but instead allowed Sporting a way back into the game. Francisco Trincao’s corner was met at the front post by Inacio, who volleyed into the back of the net to offer his side a lifeline. Arsenal were by no means as dominant in the second period, but earned a penalty when Martin Odegaard was fouled from behind by Ousmane Diomande and Saka coolly slotted the spot-kick into the bottom right corner. Substitute Trossard added a fifth with a header after Israel could only parry Mikel Merino's long-range shot into his path.