Global Medical REIT’s (NASDAQ:GMRE) Outperform Rating Reaffirmed at FBR & Co

FBR & Co restated their outperform rating on shares of Global Medical REIT Inc (NASDAQ:GMRE) in a report released on Tuesday, July 11th, MarketBeat.com reports. The brokerage currently has a $10.00 price target on the stock. FBR & Co also issued estimates for Global Medical REIT’s Q2 2017 earnings at $0.10 EPS, Q3 2017 earnings at $0.10 EPS, Q4 2017 earnings at $0.14 EPS, FY2017 earnings at $0.31 EPS, Q1 2018 earnings at $0.17 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.18 EPS, Q4 2018 earnings at $0.18 EPS and FY2018 earnings at $0.70 EPS.

A number of other research firms have also recently issued reports on GMRE. Zacks Investment Research raised Global Medical REIT from a sell rating to a buy rating and set a $11.00 price target for the company in a research report on Wednesday, May 10th. Compass Point upgraded Global Medical REIT from a neutral rating to a buy rating in a research note on Tuesday, March 28th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Global Medical REIT has a consensus rating of Buy and a consensus target price of $10.67.

Shares of Global Medical REIT (NASDAQ:GMRE) traded up 2.39% during trading on Tuesday, reaching $8.99. 70,788 shares of the company traded hands. Global Medical REIT has a 1-year low of $6.73 and a 1-year high of $11.24. The stock’s 50 day moving average is $9.16 and its 200 day moving average is $9.04.

Global Medical REIT (NASDAQ:GMRE) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by $0.17. The firm had revenue of $7.42 million for the quarter, compared to analyst estimates of $6.16 million. Global Medical REIT had a negative net margin of 54.55% and a negative return on equity of 6.70%. Analysts anticipate that Global Medical REIT will post ($0.09) EPS for the current fiscal year.

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In other news, Chairman Jeffrey Busch acquired 11,100 shares of Global Medical REIT stock in a transaction on Friday, June 30th. The shares were purchased at an average price of $9.00 per share, with a total value of $99,900.00. Following the acquisition, the chairman now owns 20,110 shares in the company, valued at $180,990. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Several hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its stake 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 buying an additional 1,477 shares during the last quarter. Wedbush Securities Inc. boosted its stake in shares of Global Medical REIT by 6.2% in the first quarter. Wedbush Securities Inc. now owns 14,500 shares of the company’s stock valued at $132,000 after buying an additional 849 shares during the last quarter. Spirit of America Management Corp NY boosted its stake in 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 worth $134,000 after buying an additional 5,000 shares in the last quarter. Citadel Advisors LLC purchased a new stake in Global Medical REIT during the first quarter worth approximately $137,000. Finally, Rhumbline Advisers boosted its stake in Global Medical REIT by 47.6% in the second quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after buying an additional 5,710 shares in 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.

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