Investment analysts at Berenberg Bank initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Several other research analysts have also commented on GMRE. TheStreet lowered Global Medical REIT from a “b-” rating to a “c+” rating in a research report on Thursday, May 7th. ValuEngine lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Monday, June 1st. Stifel Nicolaus raised their price target on Global Medical REIT from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, B. Riley upgraded Global Medical REIT from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $16.00 to $12.00 in a research report on Wednesday, March 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $14.75.
Shares of Global Medical REIT stock opened at $11.29 on Wednesday. The firm has a market capitalization of $519.19 million, a price-to-earnings ratio of 102.65 and a beta of 0.73. Global Medical REIT has a fifty-two week low of $6.98 and a fifty-two week high of $15.95. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.37 and a current ratio of 0.37. The stock has a 50 day moving average of $11.26 and a 200 day moving average of $12.30.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.17). The business had revenue of $21.65 million during the quarter, compared to analysts’ expectations of $21.04 million. Global Medical REIT had a return on equity of 2.58% and a net margin of 11.13%. Analysts forecast that Global Medical REIT will post 0.82 EPS for the current year.
Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank purchased a new position in Global Medical REIT in the fourth quarter valued at $30,000. Financial Advantage Inc. purchased a new position in Global Medical REIT in the first quarter valued at $31,000. Daiwa Securities Group Inc. boosted its holdings in Global Medical REIT by 100.0% in the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $37,000 after purchasing an additional 1,900 shares during the period. New York State Teachers Retirement System purchased a new position in Global Medical REIT in the fourth quarter valued at $37,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Global Medical REIT in the fourth quarter valued at $44,000. Hedge funds and other institutional investors own 59.77% of the company’s stock.
About Global Medical REIT
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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