Global Medical REIT (NYSE:GMRE) Stock Rating Lowered by Zacks Investment Research

Global Medical REIT (NYSE:GMREGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

Other equities analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of Global Medical REIT in a research report on Thursday, March 31st. They set a “hold” rating for the company. B. Riley dropped their target price on Global Medical REIT from $18.00 to $16.00 in a report on Tuesday. Finally, TheStreet downgraded Global Medical REIT from a “b-” rating to a “c” rating in a report on Monday, April 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $17.00.

GMRE stock opened at $12.72 on Friday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.19 and a quick ratio of 0.19. The company has a fifty day moving average price of $15.34 and a two-hundred day moving average price of $16.22. Global Medical REIT has a one year low of $12.20 and a one year high of $18.51. The stock has a market cap of $833.39 million, a price-to-earnings ratio of 63.60, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90.

Global Medical REIT (NYSE:GMREGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.19). Global Medical REIT had a return on equity of 3.05% and a net margin of 14.17%. During the same quarter in the prior year, the firm earned $0.24 EPS. Research analysts anticipate that Global Medical REIT will post 0.97 EPS for the current fiscal year.

In related news, CEO Jeffrey Busch purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, March 3rd. The stock was acquired at an average price of $15.55 per share, with a total value of $31,100.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 7.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of GMRE. Hodges Capital Management Inc. raised its stake in Global Medical REIT by 11.9% during the first quarter. Hodges Capital Management Inc. now owns 59,275 shares of the company’s stock worth $967,000 after acquiring an additional 6,316 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in Global Medical REIT by 6.3% during the first quarter. Great West Life Assurance Co. Can now owns 52,268 shares of the company’s stock worth $886,000 after acquiring an additional 3,089 shares in the last quarter. MetLife Investment Management LLC raised its stake in Global Medical REIT by 58.8% during the first quarter. MetLife Investment Management LLC now owns 29,210 shares of the company’s stock worth $477,000 after acquiring an additional 10,812 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in Global Medical REIT by 2.0% during the first quarter. Dana Investment Advisors Inc. now owns 114,858 shares of the company’s stock worth $1,874,000 after acquiring an additional 2,212 shares in the last quarter. Finally, Natixis Advisors L.P. raised its stake in Global Medical REIT by 35.4% during the first quarter. Natixis Advisors L.P. now owns 141,685 shares of the company’s stock worth $2,312,000 after acquiring an additional 37,066 shares in the last quarter. 68.60% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Company Profile (Get Rating)

Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.

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