Global Medical REIT (NYSE:GMRE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $8.25 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 13.48% from the company’s current price.
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 a number of other research reports. B. Riley reissued a “buy” rating and issued a $10.50 price target on shares of Global Medical REIT in a research note on Friday, November 10th. TheStreet downgraded Global Medical REIT from a “c-” rating to a “d” rating in a research note on Thursday, February 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Global Medical REIT has an average rating of “Buy” and an average price target of $10.25.
Global Medical REIT (NYSE:GMRE) opened at $7.27 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22. The firm has a market capitalization of $158.12, a price-to-earnings ratio of -26.93, a PEG ratio of 1.16 and a beta of -0.19. Global Medical REIT has a 12 month low of $6.84 and a 12 month high of $10.25.
A number of institutional investors have recently modified their holdings of GMRE. Pacific Ridge Capital Partners LLC acquired a new stake in Global Medical REIT during the 4th quarter worth $3,266,000. Goldman Sachs Group Inc. raised its stake in Global Medical REIT by 378.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock worth $3,154,000 after buying an additional 304,286 shares during the period. RMR Advisors LLC raised its stake in Global Medical REIT by 169.0% during the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after buying an additional 216,943 shares during the period. Renaissance Technologies LLC acquired a new stake in Global Medical REIT during the 4th quarter worth $1,755,000. Finally, Deutsche Bank AG raised its stake in Global Medical REIT by 676.9% during the 4th quarter. Deutsche Bank AG now owns 163,447 shares of the company’s stock worth $1,339,000 after buying an additional 142,408 shares during the period. 49.39% of the stock is currently owned by institutional investors and hedge funds.
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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.
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