Global Medical REIT Inc (GMRE) Given Consensus Recommendation of “Buy” by Analysts
Shares of Global Medical REIT Inc (NASDAQ:GMRE) have earned an average rating of “Buy” from the eight brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $10.67.
A number of brokerages have recently issued reports on GMRE. TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a report on Monday, July 10th. Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, July 12th. FBR & Co reaffirmed an “outperform” rating and set a $10.00 price target on shares of Global Medical REIT in a report on Tuesday, July 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price target on shares of Global Medical REIT in a report on Friday, September 1st. Finally, DA Davidson downgraded Global Medical REIT from a “buy” rating to a “neutral” rating and lowered their price target for the company from $11.00 to $10.00 in a report on Tuesday, August 22nd.
In other news, Chairman Jeffrey Busch acquired 11,100 shares of Global Medical REIT stock in a transaction that occurred on Friday, June 30th. The stock was bought at an average price of $9.00 per share, for a total transaction of $99,900.00. Following the completion of the transaction, the chairman now owns 20,110 shares in the company, valued at $180,990. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of institutional investors have recently bought and sold shares of GMRE. UBS Group AG increased its position in Global Medical REIT by 14.2% during the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock valued at $108,000 after acquiring an additional 1,477 shares during the last quarter. Spirit of America Management Corp NY increased its position in Global Medical REIT by 50.0% during the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock valued at $134,000 after acquiring an additional 5,000 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Global Medical REIT during the first quarter valued at $137,000. Wedbush Securities Inc. increased its position in Global Medical REIT by 5.8% during the second quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock valued at $137,000 after acquiring an additional 834 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Global Medical REIT by 47.6% during the second quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock valued at $158,000 after acquiring an additional 5,710 shares during the last quarter.
Shares of Global Medical REIT (NASDAQ GMRE) traded down 1.60% during midday trading on Friday, hitting $9.21. The stock had a trading volume of 1,399,881 shares. The stock’s 50-day moving average is $9.31 and its 200-day moving average is $8.95. Global Medical REIT has a 12 month low of $6.73 and a 12 month high of $10.64.
Global Medical REIT (NASDAQ:GMRE) last announced its quarterly earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.17). The business had revenue of $7.42 million for the quarter, compared to the consensus estimate of $6.16 million. Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%. Equities analysts expect that Global Medical REIT will post ($0.12) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Investors of record on Tuesday, September 26th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.69%. The ex-dividend date of this dividend is Monday, September 25th.
Global Medical REIT Company Profile
Receive News & Ratings for Global Medical REIT Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT Inc and related companies with MarketBeat.com's FREE daily email newsletter.