Global Medical REIT Inc (NASDAQ:GMRE) posted its earnings results on Thursday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. The firm had revenue of $2 million for the quarter, compared to the consensus estimate of $2.40 million.

Shares of Global Medical REIT (NASDAQ:GMRE) opened at 7.82 on Friday. Global Medical REIT has a one year low of $6.73 and a one year high of $11.38. The company has a 50 day moving average of $9.27 and a 200-day moving average of $10.05.

A number of hedge funds and other institutional investors have recently made changes to their positions in GMRE. First Dallas Securities Inc. acquired a new position in shares of Global Medical REIT during the second quarter worth about $121,000. Deprince Race & Zollo Inc. acquired a new position in shares of Global Medical REIT during the second quarter worth about $202,000. Emerald Mutual Fund Advisers Trust acquired a new position in shares of Global Medical REIT during the second quarter worth about $3,873,000. Emerald Advisers Inc. PA acquired a new position in shares of Global Medical REIT during the second quarter worth about $3,709,000. Finally, ICM Asset Management Inc. WA acquired a new position in shares of Global Medical REIT during the second quarter worth about $1,621,000.

A number of research analysts have recently issued reports on GMRE shares. Compass Point cut shares of Global Medical REIT from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 20th. Oppenheimer Holdings Inc. started coverage on shares of Global Medical REIT in a research note on Monday, July 25th. They issued an “outperform” rating and a $12.00 target price for the company. DA Davidson began coverage on shares of Global Medical REIT in a research note on Tuesday, July 26th. They issued a “buy” rating and a $12.00 target price for the company. Finally, Wunderlich lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.65.

About Global Medical REIT

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

5 Day Chart for NASDAQ:GMRE

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