Global Medical REIT (GMRE) Upgraded to Buy by Zacks Investment Research

Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Thursday. The brokerage presently has a $8.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.27% 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. “

A number of other equities analysts have also issued reports on the stock. B. Riley restated a “buy” rating and set a $10.50 target price on shares of Global Medical REIT in a research report on Friday, November 10th. TheStreet lowered shares of Global Medical REIT from a “c-” rating to a “d” rating in a research report on Thursday, February 1st. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Global Medical REIT currently has an average rating of “Buy” and an average price target of $10.20.

Shares of Global Medical REIT (NYSE GMRE) traded up $0.22 during trading on Thursday, reaching $7.19. 143,083 shares of the company’s stock traded hands, compared to its average volume of 131,321. The stock has a market capitalization of $155.52, a price-to-earnings ratio of -35.95, a P/E/G ratio of 1.14 and a beta of -41.48. Global Medical REIT has a one year low of $6.84 and a one year 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.

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

Large investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Global Medical REIT in the third quarter valued at $115,000. Nomura Asset Management Co. Ltd. acquired a new stake in Global Medical REIT in the third quarter valued at $120,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Global Medical REIT in the third quarter valued at $154,000. Rhumbline Advisers lifted its holdings in Global Medical REIT by 47.6% in 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 period. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Global Medical REIT in the second quarter valued at $185,000. Hedge funds and other institutional investors own 42.00% of the company’s stock.

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About Global Medical REIT

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.

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