Global Medical REIT (NYSE:GMRE) Rating Lowered to Hold at Zacks Investment Research


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Global Medical REIT (NYSE:GMRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, Zacks.com reports.

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, BidaskClub lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Monday, December 28th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $14.50.

Shares of GMRE stock traded up $0.22 during trading hours on Wednesday, reaching $13.11. 759,737 shares of the company’s stock were exchanged, compared to its average volume of 356,261. The stock’s 50 day moving average is $13.58 and its 200-day moving average is $13.09. The company has a market cap of $631.74 million, a price-to-earnings ratio of -81.94 and a beta of 0.74. The company has a current ratio of 0.10, a quick ratio of 0.10 and a debt-to-equity ratio of 1.23. Global Medical REIT has a fifty-two week low of $6.98 and a fifty-two week high of $15.95.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, November 4th. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.43). Global Medical REIT had a negative net margin of 6.11% and a negative return on equity of 1.46%. Equities analysts anticipate that Global Medical REIT will post 0.86 EPS for the current year.

Several hedge funds have recently bought and sold shares of GMRE. Sound Income Strategies LLC acquired a new stake in Global Medical REIT in the 4th quarter valued at about $403,000. Strs Ohio boosted its position in shares of Global Medical REIT by 1.7% during the 3rd quarter. Strs Ohio now owns 64,927 shares of the company’s stock worth $876,000 after purchasing an additional 1,055 shares during the period. Sei Investments Co. purchased a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $862,000. Great West Life Assurance Co. Can boosted its position in shares of Global Medical REIT by 17.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 9,390 shares of the company’s stock worth $127,000 after purchasing an additional 1,408 shares during the period. Finally, California State Teachers Retirement System boosted its position in shares of Global Medical REIT by 3.1% during the 3rd quarter. California State Teachers Retirement System now owns 63,843 shares of the company’s stock worth $862,000 after purchasing an additional 1,941 shares during the period. 58.31% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Company Profile

Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.

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Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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