Global Medical REIT Inc (NYSE:GMRE) Receives $10.61 Consensus Target Price from Brokerages

Shares of Global Medical REIT Inc (NYSE:GMRE) have received an average recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $10.61.

A number of analysts have recently weighed in on the stock. TheStreet raised shares of Global Medical REIT from a “c+” rating to a “b” rating in a research note on Thursday, May 9th. Zacks Investment Research raised shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, February 13th. Boenning Scattergood reaffirmed a “buy” rating and issued a $11.00 price target on shares of Global Medical REIT in a research note on Friday, May 10th. Stifel Nicolaus assumed coverage on shares of Global Medical REIT in a research note on Monday, April 15th. They issued a “buy” rating and a $11.00 price target for the company. Finally, B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the stock a “buy” rating in a research note on Friday, March 8th.

In other news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.75, for a total value of $57,963.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in GMRE. Marshall Wace LLP bought a new stake in shares of Global Medical REIT during the 1st quarter worth $6,569,000. Psagot Investment House Ltd. acquired a new position in shares of Global Medical REIT in the first quarter valued at approximately $6,085,000. BlackRock Inc. increased its stake in shares of Global Medical REIT by 24.4% in the first quarter. BlackRock Inc. now owns 1,318,289 shares of the company’s stock valued at $12,945,000 after buying an additional 258,536 shares during the period. Renaissance Technologies LLC increased its stake in shares of Global Medical REIT by 1,390.6% in the first quarter. Renaissance Technologies LLC now owns 274,945 shares of the company’s stock valued at $2,700,000 after buying an additional 256,500 shares during the period. Finally, Oxford Asset Management LLP acquired a new position in shares of Global Medical REIT in the first quarter valued at approximately $2,240,000. 51.96% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:GMRE traded down $0.04 during trading on Wednesday, reaching $10.78. The company had a trading volume of 210,600 shares, compared to its average volume of 312,147. The firm has a market cap of $362.58 million, a P/E ratio of 13.82, a P/E/G ratio of 1.57 and a beta of 0.46. Global Medical REIT has a twelve month low of $8.10 and a twelve month high of $11.11. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.76.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.18). The company had revenue of $15.20 million during the quarter, compared to analyst estimates of $15.32 million. Global Medical REIT had a return on equity of 5.52% and a net margin of 21.38%. Equities research analysts forecast that Global Medical REIT will post 0.77 EPS for the current year.

Global Medical REIT Company Profile

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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