Global Medical REIT (GMRE) Upgraded at Zacks Investment Research

Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The firm presently has a $9.25 price target on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 15.34% from the stock’s current price.

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, B. Riley reaffirmed a “buy” rating and issued a $10.50 price objective on shares of Global Medical REIT in a research note on Friday, November 10th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Global Medical REIT presently has a consensus rating of “Buy” and an average price target of $10.45.

Shares of Global Medical REIT (NYSE GMRE) traded down $0.04 during midday trading on Thursday, hitting $8.02. The stock had a trading volume of 104,596 shares, compared to its average volume of 115,571. Global Medical REIT has a twelve month low of $7.72 and a twelve month high of $10.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a market capitalization of $174.34, a PE ratio of -29.70, a PEG ratio of 1.28 and a beta of -0.04.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.10). Global Medical REIT had a negative net margin of 19.98% and a negative return on equity of 2.86%. analysts expect that Global Medical REIT will post 0.34 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Global Medical REIT during the 3rd quarter worth $115,000. Nomura Asset Management Co. Ltd. acquired a new position in Global Medical REIT during the 3rd quarter worth $120,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Global Medical REIT during the 3rd quarter worth $154,000. Rhumbline Advisers grew its stake in Global Medical REIT by 47.6% during the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after purchasing an additional 5,710 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Global Medical REIT during the 2nd quarter worth $185,000. 41.07% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/01/28/global-medical-reit-gmre-upgraded-at-zacks-investment-research.html.

Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

Get a free copy of the Zacks research report on Global Medical REIT (GMRE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply