Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $8.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.11% from the company’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. “
Other research analysts have also issued research reports about the company. B. Riley restated a “buy” rating and issued a $10.50 target price on shares of Global Medical REIT in a report on Friday, November 10th. TheStreet lowered Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $10.20.
Institutional investors have recently modified their holdings of the stock. SG Americas Securities LLC bought a new stake in Global Medical REIT during the third quarter worth $115,000. Nomura Asset Management Co. Ltd. bought a new stake in Global Medical REIT during the third quarter worth $120,000. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in Global Medical REIT during the third quarter worth $154,000. Rhumbline Advisers lifted its holdings in Global Medical REIT by 47.6% during the second quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after acquiring an additional 5,710 shares during the period. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Global Medical REIT during the second quarter worth $185,000. Institutional investors and hedge funds own 41.82% of the company’s stock.
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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.
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