Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Compass Point from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.

Several other research analysts have also issued reports on GMRE. DA Davidson initiated coverage on Global Medical REIT in a research note on Tuesday, July 26th. They set a “buy” rating and a $12.00 price objective for the company. Oppenheimer Holdings Inc. initiated coverage on Global Medical REIT in a research note on Monday, July 25th. They set an “outperform” rating and a $12.00 price objective for the company. BB&T Corp. initiated coverage on Global Medical REIT in a research note on Monday, July 11th. They set a “hold” rating and a $10.50 price objective for the company. Finally, Wunderlich initiated coverage on Global Medical REIT in a research note on Monday, July 11th. They set a “buy” rating and a $11.75 price objective for the company. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Global Medical REIT has an average rating of “Buy” and a consensus price target of $11.65.

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

Shares of Global Medical REIT (NASDAQ:GMRE) traded down 2.30% during midday trading on Tuesday, reaching $10.19. 106,370 shares of the company’s stock traded hands. The firm’s market capitalization is $179.39 million. The stock’s 50 day moving average price is $10.62 and its 200 day moving average price is $10.55. Global Medical REIT has a 52-week low of $9.52 and a 52-week high of $11.38.

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

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

Several hedge funds have recently made changes to their positions in GMRE. First Dallas Securities Inc. acquired a new stake in shares of Global Medical REIT during the second quarter valued at approximately $121,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Global Medical REIT during the second quarter valued at approximately $202,000. Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Global Medical REIT during the second quarter valued at approximately $3,873,000. Emerald Advisers Inc. PA acquired a new stake in shares of Global Medical REIT during the second quarter valued at approximately $3,709,000. Finally, ICM Asset Management Inc. WA acquired a new stake in shares of Global Medical REIT during the second quarter valued at approximately $1,621,000.

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.

5 Day Chart for NASDAQ:GMRE

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