Global Medical REIT Inc (NASDAQ:GMRE) has been assigned a $12.00 price objective by analysts at DA Davidson in a research note issued to investors on Thursday. The firm currently has a a “buy” rating on the stock. DA Davidson’s price target suggests a potential upside of 54.04% from the stock’s current price.

Other analysts also recently issued research reports about the company. Oppenheimer Holdings Inc. began coverage on Global Medical REIT in a research note on Monday, July 25th. They issued an “outperform” rating and a $12.00 price target on the stock. Wunderlich downgraded Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Compass Point downgraded Global Medical REIT from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 20th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $11.65.

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

Shares of Global Medical REIT (NASDAQ:GMRE) opened at 7.79 on Thursday. The firm has a 50 day moving average price of $9.20 and a 200 day moving average price of $10.03. Global Medical REIT has a 52 week low of $6.73 and a 52 week high of $11.38.

Global Medical REIT (NASDAQ:GMRE) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by $0.02. The company earned $2 million during the quarter, compared to the consensus estimate of $2.40 million. Analysts forecast that Global Medical REIT will post ($0.54) EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of GMRE. Manning & Napier Advisors LLC purchased a new position in Global Medical REIT during the second quarter worth about $2,020,000. Fortaleza Asset Management Inc. purchased a new position in Global Medical REIT during the second quarter worth about $123,000. Tygh Capital Management Inc. purchased a new position in Global Medical REIT during the second quarter worth about $1,011,000. Argent Trust Co purchased a new position in Global Medical REIT during the second quarter worth about $104,000. Finally, California Public Employees Retirement System purchased a new position in Global Medical REIT during the second quarter worth about $516,000.

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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