Global Medical REIT Inc (GMRE) Given Average Recommendation of “Hold” by Brokerages
Global Medical REIT Inc (NASDAQ:GMRE) has received a consensus rating of “Hold” from the six analysts that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $11.50.
A number of brokerages have recently commented on GMRE. DA Davidson started coverage on shares of Global Medical REIT in a report on Tuesday, July 26th. They issued a “buy” rating and a $12.00 target price for the company. Oppenheimer Holdings Inc. started coverage on shares of Global Medical REIT in a research note on Monday, July 25th. They set an “outperform” rating and a $12.00 price target on the stock. Compass Point lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 20th. Wunderlich lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Finally, Zacks Investment Research lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Tuesday.
Global Medical REIT (NASDAQ:GMRE) remained flat at $7.24 on Wednesday. Global Medical REIT has a 12-month low of $6.73 and a 12-month high of $11.38. The firm’s 50-day moving average price is $9.20 and its 200-day moving average price is $10.03.
Global Medical REIT (NASDAQ:GMRE) last announced its earnings results on Thursday, November 10th. The company reported ($0.03) 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 analyst estimates of $2.40 million. On average, equities research analysts predict that Global Medical REIT will post ($0.54) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Crow Point Partners LLC bought a new position in shares of Global Medical REIT during the third quarter valued at $8,882,000. First Dallas Securities Inc. raised its position in shares of Global Medical REIT by 442.1% in the third quarter. First Dallas Securities Inc. now owns 65,050 shares of the company’s stock valued at $635,000 after buying an additional 53,050 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in shares of Global Medical REIT during the third quarter valued at $587,000. Ardsley Advisory Partners acquired a new stake in Global Medical REIT during the third quarter valued at approximately $2,261,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in Global Medical REIT during the third quarter valued at approximately $140,000.
Global Medical REIT Company Profile
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.
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