Global Medical REIT Inc (GMRE) Lowered to Sell at Zacks Investment Research
Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.
According to Zacks, “Global Medical REIT Inc. is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to clinical operators. Global Medical REIT Inc. is based in Denver, United States. “
Separately, Janney Montgomery Scott assumed coverage on shares of Global Medical REIT in a report on Thursday, February 23rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $11.65.
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Shares of Global Medical REIT (NASDAQ:GMRE) traded down 0.24% during mid-day trading on Monday, reaching $8.32. 48,958 shares of the company’s stock were exchanged. Global Medical REIT has a 1-year low of $6.73 and a 1-year high of $11.38. The company’s 50 day moving average is $8.48 and its 200 day moving average is $8.91.
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Several hedge funds have recently added to or reduced their stakes in GMRE. BB&T Securities LLC acquired a new stake in Global Medical REIT during the third quarter valued at approximately $145,000. Bridgecreek Investment Management LLC acquired a new stake in Global Medical REIT during the third quarter valued at approximately $407,000. IPG Investment Advisors LLC acquired a new stake in Global Medical REIT during the third quarter valued at approximately $112,000. Oppenheimer & Co. Inc. acquired a new stake in Global Medical REIT during the third quarter valued at approximately $192,000. Finally, Wedbush Securities Inc. acquired a new stake in Global Medical REIT during the third quarter valued at approximately $164,000.
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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