Global Medical REIT Inc (GMRE) Rating Increased to Hold at Zacks Investment Research
Global Medical REIT Inc (NASDAQ:GMRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
Several other research firms have also recently commented on GMRE. DA Davidson began coverage on Global Medical REIT in a research report on Tuesday, July 26th. They set a “buy” rating and a $12.00 target price for the company. Oppenheimer Holdings Inc. began coverage on Global Medical REIT in a research report on Monday, July 25th. They set an “outperform” rating and a $12.00 target price for the company. Compass Point cut Global Medical REIT from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 20th. Finally, Wunderlich cut Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $11.65.
Global Medical REIT (NASDAQ:GMRE) opened at 7.36 on Tuesday. Global Medical REIT has a 52-week low of $6.73 and a 52-week high of $11.38. The firm has a 50-day moving average price of $8.66 and a 200 day moving average price of $9.82.
Global Medical REIT (NASDAQ:GMRE) last released its quarterly earnings data on Thursday, November 10th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by $0.02. The company earned $2 million during the quarter, compared to the consensus estimate of $2.40 million. On average, analysts expect that Global Medical REIT will post ($0.54) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Crow Point Partners LLC purchased a new position in Global Medical REIT during the third quarter worth about $8,882,000. BlackRock Fund Advisors purchased a new position in Global Medical REIT during the third quarter worth about $4,242,000. Emerald Mutual Fund Advisers Trust boosted its position in Global Medical REIT by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 394,420 shares of the company’s stock worth $3,850,000 after buying an additional 11,310 shares during the last quarter. Emerald Advisers Inc. PA purchased a new position in Global Medical REIT during the second quarter worth about $3,709,000. Finally, Manning & Napier Advisors LLC boosted its position in Global Medical REIT by 77.4% in the third quarter. Manning & Napier Advisors LLC now owns 354,890 shares of the company’s stock worth $3,462,000 after buying an additional 154,890 shares during the last quarter.
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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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