Global Medical REIT Inc. (NYSE:GMRE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday. The brokerage currently has a $10.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 7.87% from the company’s previous close.

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 brokerages have also issued reports on GMRE. B. Riley restated a “buy” rating and set a $10.50 target price on shares of Global Medical REIT in a research report on Friday, November 10th. FBR & Co restated a “buy” rating and set a $10.50 target price (up previously from $10.00) on shares of Global Medical REIT in a research report on Monday, September 18th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 target price on shares of Global Medical REIT in a research report on Friday, September 1st. Finally, DA Davidson lowered Global Medical REIT from a “buy” rating to a “neutral” rating and dropped their target price for the company from $11.00 to $10.00 in a research report on Tuesday, August 22nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $10.60.

Global Medical REIT (NYSE:GMRE) opened at $9.27 on Tuesday. The company has a market capitalization of $201.81, a PE ratio of 23.92, a P/E/G ratio of 3.05 and a beta of -0.71. Global Medical REIT has a 12-month low of $7.10 and a 12-month high of $10.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. Orinda Asset Management LLC boosted its holdings 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 purchasing an additional 50,000 shares during the period. Wedbush Securities Inc. boosted its holdings in shares of Global Medical REIT by 5.8% in the second quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock valued at $137,000 after purchasing an additional 834 shares during the period. Spirit of America Management Corp NY boosted its holdings in shares of Global Medical REIT by 50.0% in the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock valued at $134,000 after purchasing an additional 5,000 shares during the period. UBS Group AG boosted its holdings in shares of Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock valued at $108,000 after purchasing an additional 1,477 shares during the period. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Global Medical REIT by 20.0% in the second quarter. State of Wisconsin Investment Board now owns 433,050 shares of the company’s stock valued at $3,871,000 after purchasing an additional 72,100 shares during the period. Hedge funds and other institutional investors own 36.91% of the company’s stock.

About Global Medical REIT

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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