Global Medical REIT (NYSE:GMRE) was upgraded by analysts at Boenning Scattergood to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $11.00 target price on the stock. Boenning Scattergood’s target price would indicate a potential upside of 18.28% from the stock’s previous close.
Several other analysts have also issued reports on GMRE. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. B. Riley set a $11.00 price objective on Global Medical REIT and gave the company a “buy” rating in a research note on Friday, August 10th. Finally, Robert W. Baird initiated coverage on Global Medical REIT in a research note on Thursday, October 11th. They set an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.50.
Shares of GMRE opened at $9.30 on Wednesday. The firm has a market capitalization of $196.84 million, a price-to-earnings ratio of 17.22, a PEG ratio of 1.23 and a beta of 0.51. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.14 and a current ratio of 0.14. Global Medical REIT has a 1 year low of $6.34 and a 1 year high of $10.05.
Global Medical REIT (NYSE:GMRE) last issued its earnings results on Monday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.22). The firm had revenue of $14.00 million during the quarter, compared to the consensus estimate of $14.34 million. Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%. Research analysts anticipate that Global Medical REIT will post 0.82 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in shares of Global Medical REIT by 16.5% during the 2nd quarter. BlackRock Inc. now owns 1,010,733 shares of the company’s stock valued at $8,955,000 after purchasing an additional 143,401 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Global Medical REIT by 2.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 438,000 shares of the company’s stock valued at $4,126,000 after purchasing an additional 10,000 shares during the period. RMR Advisors LLC raised its stake in shares of Global Medical REIT by 8.7% during the 2nd quarter. RMR Advisors LLC now owns 437,967 shares of the company’s stock valued at $3,880,000 after purchasing an additional 35,126 shares during the period. Millennium Management LLC raised its stake in shares of Global Medical REIT by 370.7% during the 1st quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock valued at $1,593,000 after purchasing an additional 180,465 shares during the period. Finally, Northern Trust Corp raised its stake in shares of Global Medical REIT by 16.0% during the 2nd quarter. Northern Trust Corp now owns 224,496 shares of the company’s stock valued at $1,989,000 after purchasing an additional 30,934 shares during the period. Institutional investors own 42.01% of the company’s stock.
Global Medical REIT Company Profile
Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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