Global Medical REIT Inc (GMRE) Upgraded to C- at TheStreet
Global Medical REIT Inc (NASDAQ:GMRE) was upgraded by stock analysts at TheStreet from a “d” rating to a “c-” rating in a research note issued to investors on Monday, July 10th.
Other equities research analysts have also issued reports about the company. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, July 12th. FBR & Co reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Global Medical REIT in a report on Tuesday, July 11th. Finally, Compass Point raised Global Medical REIT from a “neutral” rating to a “buy” rating in a report on Tuesday, March 28th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Global Medical REIT presently has an average rating of “Buy” and an average price target of $11.00.
Shares of Global Medical REIT (NASDAQ GMRE) traded up 0.44% during midday trading on Monday, reaching $9.12. The company’s stock had a trading volume of 177,055 shares. 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 price is $9.52 and its 200 day moving average price is $9.05.
Global Medical REIT (NASDAQ:GMRE) last released its quarterly earnings results on Thursday, May 11th. The company reported ($0.14) EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.24. The business had revenue of $4.66 million for the quarter, compared to the consensus estimate of $5.32 million. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. Equities research analysts anticipate that Global Medical REIT will post ($0.04) EPS for the current fiscal year.
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In other news, Chairman Jeffrey Busch acquired 11,100 shares of Global Medical REIT stock in a transaction on Friday, June 30th. The shares were purchased at an average price of $9.00 per share, with a total value of $99,900.00. Following the acquisition, the chairman now owns 20,110 shares in the company, valued at $180,990. The transaction was disclosed in a document filed with the SEC, which is available through this link.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. IPG Investment Advisors LLC bought a new position in Global Medical REIT during the third quarter worth $112,000. UBS Group AG increased its position in Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock worth $108,000 after buying an additional 1,477 shares during the period. First Dallas Securities Inc. bought a new position in Global Medical REIT during the second quarter worth $121,000. Fortaleza Asset Management Inc. bought a new position in Global Medical REIT during the second quarter worth $123,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in Global Medical REIT during the third quarter worth $140,000.
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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