Shares of Global Medical REIT Inc (NASDAQ:GMRE) have received an average broker rating score of 1.00 (Strong Buy) from the four brokers that provide coverage for the stock, Zacks Investment Research reports. Four equities research analysts have rated the stock with a strong buy recommendation.

Analysts have set a 12-month consensus target price of $11.94 for the company and are expecting that the company will post ($0.03) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Global Medical REIT an industry rank of 158 out of 265 based on the ratings given to its competitors.

A number of research firms recently issued reports on GMRE. Compass Point began coverage on Global Medical REIT in a research note on Monday, July 11th. They set a “buy” rating and a $12.00 price target on the stock. DA Davidson began coverage on Global Medical REIT in a research report on Tuesday, July 26th. They set a “buy” rating and a $12.00 price objective for the company. Wunderlich began coverage on Global Medical REIT in a research report on Monday, July 11th. They set a “buy” rating and a $11.75 price objective for the company. Oppenheimer Holdings Inc. began coverage on Global Medical REIT in a research report on Monday, July 25th. They set an “outperform” rating and a $12.00 price objective for the company. Finally, BB&T Corp. began coverage on Global Medical REIT in a research report on Monday, July 11th. They set a “hold” rating and a $10.50 price objective for the company.

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Shares of Global Medical REIT (NASDAQ:GMRE) traded down 2.40% on Tuesday, reaching $10.18. The company’s stock had a trading volume of 132,563 shares. Global Medical REIT has a 1-year low of $9.52 and a 1-year high of $11.38. The company’s market capitalization is $179.22 million. The stock has a 50-day moving average price of $10.62 and a 200-day moving average price of $10.55.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Tuesday, September 27th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, September 23rd. This represents a $0.80 annualized dividend and a dividend yield of 7.67%.

In other Global Medical REIT news, Chairman Jeffrey Busch purchased 9,000 shares of Global Medical REIT stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost of $10.01 per share, with a total value of $90,090.00. Following the acquisition, the chairman now directly owns 9,000 shares of the company’s stock, valued at $90,090. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Zh Usa, Llc purchased 1,179,019 shares of Global Medical REIT stock in a transaction dated Friday, July 1st. The stock was acquired at an average cost of $12.75 per share, with a total value of $15,032,492.25. Following the completion of the acquisition, the insider now directly owns 2,604,500 shares in the company, valued at $33,207,375. The disclosure for this purchase can be found here.

Several hedge funds have recently bought and sold shares of the stock. Argent Trust Co acquired a new stake in Global Medical REIT during the second quarter valued at approximately $104,000. Prudential Financial Inc. acquired a new stake in Global Medical REIT during the second quarter valued at approximately $106,000. First Dallas Securities Inc. acquired a new stake in Global Medical REIT during the second quarter valued at approximately $121,000. Fortaleza Asset Management Inc. acquired a new stake in Global Medical REIT during the second quarter valued at approximately $123,000. Finally, Thompson Davis & CO. Inc. acquired a new stake in Global Medical REIT during the second quarter valued at approximately $152,000.

Global Medical REIT Company Profile

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.

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