Global Medical REIT Inc (NASDAQ:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, July 12th. The brokerage presently has a $10.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 10.50% from the stock’s current price.

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. “

Other research analysts have also issued research reports about the company. Compass Point raised Global Medical REIT from a “neutral” rating to a “buy” rating in a report on Tuesday, March 28th. FBR & Co reissued an “outperform” rating and set a $10.00 price objective on shares of Global Medical REIT in a report on Tuesday, July 11th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $10.67.

Shares of Global Medical REIT (NASDAQ:GMRE) opened at 9.05 on Wednesday. Global Medical REIT has a 12 month low of $6.73 and a 12 month high of $11.24. The stock’s 50 day moving average is $9.28 and its 200 day moving average is $9.04.

Global Medical REIT (NASDAQ:GMRE) last issued its earnings results on Thursday, May 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.24. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. The firm had revenue of $4.66 million during the quarter, compared to analyst estimates of $5.32 million. Equities research analysts anticipate that Global Medical REIT will post ($0.09) earnings per share for the current fiscal year.

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In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the firm’s stock in a transaction that occurred on Friday, June 30th. The stock was purchased at an average price of $9.00 per share, for a total transaction of $99,900.00. Following the purchase, the chairman now directly owns 20,110 shares in the company, valued at $180,990. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC increased its stake in shares of Global Medical REIT by 37.5% in the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock valued at $197,000 after buying an additional 6,018 shares during the last quarter. Rational Advisors LLC acquired a new stake in shares of Global Medical REIT during the first quarter valued at $2,425,000. Menta Capital LLC acquired a new stake in shares of Global Medical REIT during the first quarter valued at $164,000. State Street Corp increased its stake in shares of Global Medical REIT by 105.7% in the fourth quarter. State Street Corp now owns 222,290 shares of the company’s stock valued at $1,983,000 after buying an additional 114,242 shares during the last quarter. Finally, Orinda Asset Management LLC increased its stake in shares of Global Medical REIT by 100.0% in the second quarter. Orinda Asset Management LLC now owns 100,000 shares of the company’s stock valued at $894,000 after buying an additional 50,000 shares during the last quarter.

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.

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Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

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