Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

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. “

A number of other research firms have also weighed in on GMRE. Wunderlich lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Thursday, November 10th. Compass Point lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating in a research note on Tuesday, September 20th. Finally, DA Davidson set a $12.00 price objective on shares of Global Medical REIT and gave the stock a “buy” rating in a research note on Thursday, November 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Global Medical REIT presently has a consensus rating of “Hold” and a consensus price target of $11.65.

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

Shares of Global Medical REIT (NASDAQ:GMRE) traded down 1.35% during mid-day trading on Monday, hitting $7.32. 152,454 shares of the stock were exchanged. The stock has a 50-day moving average price of $8.53 and a 200 day moving average price of $9.77. 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) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $2 million for the quarter, compared to analysts’ expectations of $2.40 million. On average, equities research analysts forecast that Global Medical REIT will post ($0.54) earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the stock. Crow Point Partners LLC purchased a new stake in Global Medical REIT during the third quarter valued at approximately $8,882,000. BlackRock Fund Advisors purchased a new stake in Global Medical REIT during the third quarter valued at approximately $4,242,000. Emerald Mutual Fund Advisers Trust raised its stake 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 valued at $3,850,000 after buying an additional 11,310 shares during the last quarter. Emerald Advisers Inc. PA purchased a new stake in Global Medical REIT during the second quarter valued at approximately $3,709,000. Finally, Manning & Napier Advisors LLC raised its stake 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 valued at $3,462,000 after buying an additional 154,890 shares during the last quarter.

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.

5 Day Chart for NASDAQ:GMRE

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