Global Medical REIT (GMRE) Upgraded to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Global Medical REIT (NYSE:GMRE) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $8.00 target price on the stock.

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. “

GMRE has been the subject of a number of other research reports. B. Riley restated a buy rating and issued a $10.50 price objective on shares of Global Medical REIT in a research note on Friday, November 10th. TheStreet cut shares of Global Medical REIT from a c- rating to a d rating in a research note on Thursday, February 1st. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Global Medical REIT presently has an average rating of Buy and a consensus target price of $10.20.

Global Medical REIT (NYSE:GMRE) traded down $0.01 during trading hours on Thursday, reaching $6.96. 78,417 shares of the company traded hands, compared to its average volume of 126,761. The firm has a market cap of $156.39, a PE ratio of -25.81, a P/E/G ratio of 1.15 and a beta of -0.19. Global Medical REIT has a 1 year low of $6.84 and a 1 year high of $10.25. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Thursday, November 9th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.10). Global Medical REIT had a negative net margin of 19.98% and a negative return on equity of 2.86%. research analysts forecast that Global Medical REIT will post 0.34 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 11.49%. The ex-dividend date of this dividend was Friday, December 22nd. Global Medical REIT’s dividend payout ratio is -296.30%.

Several hedge funds have recently made changes to their positions in GMRE. Rational Advisors LLC bought a new stake in shares of Global Medical REIT in the 4th quarter worth about $614,000. RMR Advisors LLC grew its holdings in shares of Global Medical REIT by 169.0% in the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after purchasing an additional 216,943 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Global Medical REIT by 67.2% in the 4th quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after purchasing an additional 8,624 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Global Medical REIT by 37.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock worth $1,044,000 after purchasing an additional 31,900 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its holdings in shares of Global Medical REIT by 36,351.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 36,451 shares of the company’s stock worth $333,000 after purchasing an additional 36,351 shares during the last quarter. Institutional investors own 42.00% of the company’s stock.

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Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

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