Shares of Global Medical REIT Inc (NASDAQ:GMRE) have been assigned a consensus rating of “Buy” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $10.83.

A number of research firms recently weighed in on GMRE. Zacks Investment Research upgraded shares of 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. DA Davidson lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $11.00 to $10.00 in a research report on Tuesday, August 22nd. FBR & Co restated an “outperform” rating and set a $10.00 price target on shares of Global Medical REIT in a research report on Tuesday, July 11th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target on shares of Global Medical REIT in a research report on Friday, September 1st. Finally, TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a research report on Monday, July 10th.

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in Global Medical REIT by 14.2% in the 1st quarter. UBS Group AG now owns 11,847 shares of the company’s stock valued at $108,000 after purchasing an additional 1,477 shares during the last quarter. Spirit of America Management Corp NY boosted its holdings in Global Medical REIT by 50.0% in the 2nd quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock valued at $134,000 after purchasing an additional 5,000 shares during the last quarter. Citadel Advisors LLC acquired a new position in Global Medical REIT in the 1st quarter valued at about $137,000. Wedbush Securities Inc. boosted its holdings in Global Medical REIT by 5.8% in the 2nd quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock valued at $137,000 after purchasing an additional 834 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in Global Medical REIT by 47.6% in the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock valued at $158,000 after purchasing an additional 5,710 shares during the last quarter.

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Global Medical REIT (NASDAQ:GMRE) traded up 0.66% on Thursday, hitting $9.21. 21,978 shares of the company’s stock traded hands. Global Medical REIT has a one year low of $6.73 and a one year high of $10.25. The stock has a 50-day moving average of $9.08 and a 200-day moving average of $9.08.

Global Medical REIT (NASDAQ:GMRE) last posted its quarterly earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share 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 analyst estimates of $6.16 million. Global Medical REIT had a negative return on equity of 1.53% and a negative net margin of 8.39%. Equities analysts predict that Global Medical REIT will post ($0.16) earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 9th. Investors of record on Tuesday, September 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, September 25th. This represents a $0.80 dividend on an annualized basis and a yield of 8.74%.

About Global Medical REIT

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

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