Analysts Set Global Medical REIT Inc. (NYSE:GMRE) Target Price at $42.00

Shares of Global Medical REIT Inc. (NYSE:GMRE) have been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $42.00.

A number of equities research analysts have issued reports on the stock. Robert W. Baird decreased their price target on shares of Global Medical REIT from $45.00 to $41.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th.

Institutional Investors Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd raised its stake in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Global Medical REIT in the 3rd quarter worth $35,000. New York State Teachers Retirement System bought a new position in shares of Global Medical REIT during the 3rd quarter worth about $39,000. Virtus Advisers LLC raised its position in shares of Global Medical REIT by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after buying an additional 768 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. acquired a new position in shares of Global Medical REIT during the fourth quarter valued at about $92,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Price Performance

NYSE GMRE opened at $35.96 on Monday. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $45.75. The company has a fifty day simple moving average of $35.38 and a 200 day simple moving average of $34.45. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.65. The company has a market cap of $482.22 million, a P/E ratio of -143.84 and a beta of 1.18.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.