Zacks Investment Research Downgrades Global Medical REIT (GMRE) to Hold

Global Medical REIT (NYSE:GMRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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 research analysts also recently commented on GMRE. B. Riley reissued a “buy” rating and issued a $10.50 price target on shares of Global Medical REIT in a report on Friday, November 10th. FBR & Co reissued a “buy” rating and issued a $10.50 price target (up from $10.00) on shares of Global Medical REIT in a report on Monday, September 18th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $12.00 price target on shares of Global Medical REIT in a report on Friday, September 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Global Medical REIT currently has a consensus rating of “Buy” and a consensus target price of $10.60.

Global Medical REIT (GMRE) opened at $8.28 on Friday. The company has a market cap of $179.10, a P/E ratio of -41.40, a P/E/G ratio of 2.86 and a beta of -48.01. Global Medical REIT has a fifty-two week low of $7.85 and a fifty-two week high of $10.25. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.72.

Several institutional investors have recently bought and sold shares of GMRE. Teachers Advisors LLC raised its position in Global Medical REIT by 5.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock worth $235,000 after purchasing an additional 1,243 shares during the period. Northern Trust Corp increased its position in shares of Global Medical REIT by 2.0% in the second quarter. Northern Trust Corp now owns 147,978 shares of the company’s stock valued at $1,323,000 after acquiring an additional 2,873 shares during the period. Vanguard Group Inc. increased its position in shares of Global Medical REIT by 0.8% in the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock valued at $4,667,000 after acquiring an additional 4,044 shares during the period. Wells Fargo & Company MN increased its position in shares of Global Medical REIT by 20.6% in the second quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock valued at $239,000 after acquiring an additional 4,589 shares during the period. Finally, GRT Capital Partners L.L.C. increased its position in shares of Global Medical REIT by 27.9% in the second quarter. GRT Capital Partners L.L.C. now owns 22,486 shares of the company’s stock valued at $201,000 after acquiring an additional 4,910 shares during the period. Hedge funds and other institutional investors own 41.00% of the company’s stock.

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About Global Medical REIT

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