Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, Zacks.com reports. The firm currently has a $13.00 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.91% from the company’s previous close.

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 analysts have also issued reports about the company. Stifel Nicolaus raised their target price on Global Medical REIT from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Robert W. Baird raised their target price on Global Medical REIT from $14.00 to $17.00 and gave the company an “outperform” rating in a research note on Friday, March 6th. B. Riley upgraded Global Medical REIT from a “neutral” rating to a “buy” rating and lowered their target price for the company from $16.00 to $12.00 in a research note on Wednesday, March 18th. TheStreet lowered Global Medical REIT from a “b-” rating to a “c+” rating in a research note on Thursday, May 7th. Finally, National Securities assumed coverage on Global Medical REIT in a research note on Friday, February 7th. They issued a “buy” rating and a $16.00 target price for the company. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.75.

Global Medical REIT stock opened at $11.12 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.37 and a quick ratio of 0.37. The stock has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $12.59. Global Medical REIT has a 52-week low of $6.98 and a 52-week high of $15.95. The firm has a market capitalization of $496.46 million, a P/E ratio of 101.10 and a beta of 0.74.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.17). Global Medical REIT had a return on equity of 2.58% and a net margin of 11.13%. The company had revenue of $21.65 million for the quarter, compared to analyst estimates of $21.04 million. On average, equities research analysts predict that Global Medical REIT will post 0.83 EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in Global Medical REIT by 16.0% in the fourth quarter. Geode Capital Management LLC now owns 455,001 shares of the company’s stock valued at $6,019,000 after acquiring an additional 62,925 shares during the last quarter. Swiss National Bank bought a new position in Global Medical REIT in the fourth quarter valued at about $1,031,000. State Street Corp boosted its holdings in Global Medical REIT by 11.8% in the third quarter. State Street Corp now owns 714,435 shares of the company’s stock valued at $8,284,000 after acquiring an additional 75,168 shares during the last quarter. FMR LLC bought a new position in Global Medical REIT in the fourth quarter valued at about $9,759,000. Finally, Stifel Financial Corp boosted its holdings in Global Medical REIT by 7.3% in the fourth quarter. Stifel Financial Corp now owns 262,296 shares of the company’s stock valued at $3,469,000 after acquiring an additional 17,821 shares during the last quarter. Institutional investors and hedge funds own 59.77% of the company’s stock.

Global Medical REIT Company Profile

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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Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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