Global Medical REIT Inc (GMRE) Given Average Rating of “Buy” by Analysts

Global Medical REIT Inc (NYSE:GMRE) has been assigned an average rating of “Buy” from the eight ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $10.20.

A number of equities research analysts have commented on GMRE shares. Zacks Investment Research cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. B. Riley reissued a “buy” rating on shares of Global Medical REIT in a report on Wednesday, November 1st. Finally, TheStreet cut Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st.

Shares of Global Medical REIT (NYSE GMRE) opened at $7.20 on Wednesday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $155.74, a PE ratio of -36.00, a price-to-earnings-growth ratio of 1.15 and a beta of -41.48. Global Medical REIT has a twelve month low of $6.84 and a twelve month high of $10.25.

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Global Medical REIT by 4.2% during the fourth quarter. BlackRock Inc. now owns 831,902 shares of the company’s stock valued at $6,822,000 after acquiring an additional 33,411 shares during the period. Vanguard Group Inc. grew its position in shares of Global Medical REIT by 0.8% during the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock valued at $4,667,000 after purchasing an additional 4,044 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new position in shares of Global Medical REIT during the fourth quarter valued at about $3,266,000. RMR Advisors LLC grew its position in shares of Global Medical REIT by 169.0% during the fourth quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock valued at $2,832,000 after purchasing an additional 216,943 shares in the last quarter. Finally, State Street Corp grew its position in shares of Global Medical REIT by 9.7% during the second quarter. State Street Corp now owns 234,183 shares of the company’s stock valued at $2,094,000 after purchasing an additional 20,804 shares in the last quarter. 41.82% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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