Global Medical REIT (GMRE) Upgraded by Zacks Investment Research to Buy

Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm currently has a $9.50 target price on the stock. Zacks Investment Research‘s price target points to a potential upside of 15.29% from the company’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. “

Several other equities analysts also recently issued reports on the company. B. Riley reiterated a “buy” rating and set a $10.50 price objective on shares of Global Medical REIT in a research report on Friday, November 10th. FBR & Co reiterated a “buy” rating and set a $10.50 price objective (up from $10.00) on shares of Global Medical REIT in a research report on Monday, September 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Global Medical REIT has an average rating of “Buy” and an average price target of $10.50.

Global Medical REIT (NYSE:GMRE) traded down $0.33 during trading hours on Tuesday, hitting $8.24. The stock had a trading volume of 207,867 shares, compared to its average volume of 301,248. The company has a market capitalization of $178.24, a price-to-earnings ratio of -41.20, a PEG ratio of 1.38 and a beta of -48.24. Global Medical REIT has a 52 week low of $7.85 and a 52 week 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.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its position in shares of Global Medical REIT by 37.8% during the third quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock worth $1,044,000 after buying an additional 31,900 shares during the period. Asset Management One Co. Ltd. lifted its position in Global Medical REIT by 36,351.0% in the third 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 period. Nomura Asset Management Co. Ltd. acquired a new stake in Global Medical REIT in the third quarter worth approximately $120,000. B. Riley Financial Inc. acquired a new stake in Global Medical REIT in the third quarter worth approximately $229,000. Finally, Stifel Financial Corp acquired a new stake in Global Medical REIT in the third quarter worth approximately $1,007,000. Institutional investors and hedge funds own 41.00% of the company’s stock.

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Global Medical REIT Company Profile

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