Global Medical REIT (GMRE) Lowered to “Hold” at Zacks Investment Research

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.

Global Medical REIT (NYSE GMRE) traded up $0.13 during midday trading on Thursday, hitting $7.27. The stock had a trading volume of 79,822 shares, compared to its average volume of 121,056. The company has a market cap of $158.12, a PE ratio of -26.93, a price-to-earnings-growth ratio of 1.16 and a beta of -0.19. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22. Global Medical REIT has a 12-month low of $6.84 and a 12-month high 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.

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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.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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