Global Medical REIT (NYSE:GMRE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.
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. “
GMRE has been the topic of several other reports. B. Riley reissued a “buy” rating and set a $10.50 price target on shares of Global Medical REIT in a report on Friday, November 10th. TheStreet cut Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 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 price target of $10.25.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ICM Asset Management Inc. WA lifted its holdings in shares of Global Medical REIT by 33.5% during the 4th quarter. ICM Asset Management Inc. WA now owns 203,190 shares of the company’s stock valued at $1,666,000 after buying an additional 50,940 shares during the period. Jane Street Group LLC bought a new position in Global Medical REIT in the 4th quarter worth $492,000. Goldman Sachs Group Inc. raised its holdings in Global Medical REIT by 378.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock worth $3,154,000 after purchasing an additional 304,286 shares during the period. Deutsche Bank AG raised its holdings in Global Medical REIT by 676.9% in the 4th quarter. Deutsche Bank AG now owns 163,447 shares of the company’s stock worth $1,339,000 after purchasing an additional 142,408 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Global Medical REIT in the 4th quarter worth $1,755,000. 49.39% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: This piece was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another site, it was copied illegally and reposted in violation of international copyright law. The correct version of this piece can be viewed at https://stocknewstimes.com/2018/02/23/global-medical-reit-gmre-lowered-to-hold-at-zacks-investment-research.html.
Global Medical REIT Company Profile
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter.