November 10, 2019 at 5:41 pm

Global Medical REIT (NYSE:GMRE) Cut to “Hold” at Zacks Investment Research

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Zacks Investment Research downgraded shares of Global Medical REIT (NYSE:GMRE) from a buy rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

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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. “

Several other research analysts also recently weighed in on the stock. ValuEngine downgraded shares of Global Medical REIT from a buy rating to a hold rating in a research note on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Global Medical REIT from $11.00 to $12.00 and gave the company a buy rating in a research note on Thursday. Finally, TheStreet raised shares of Global Medical REIT from a c+ rating to a b- rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $11.21.

Shares of NYSE:GMRE traded up $0.56 during midday trading on Friday, hitting $12.23. 449,020 shares of the stock were exchanged, compared to its average volume of 279,818. The stock has a market cap of $403.88 million, a P/E ratio of 15.68 and a beta of 0.40. The company has a current ratio of 0.14, a quick ratio of 0.14 and a debt-to-equity ratio of 1.13. Global Medical REIT has a twelve month low of $8.15 and a twelve month high of $12.50. The company has a 50 day moving average price of $11.72 and a 200-day moving average price of $10.92.

Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, November 6th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.17). Global Medical REIT had a net margin of 24.11% and a return on equity of 5.91%. The firm had revenue of $18.20 million during the quarter, compared to analyst estimates of $17.68 million. On average, equities research analysts expect that Global Medical REIT will post 0.74 earnings per share for the current year.

In other news, Director Ronald Marston bought 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $10.70 per share, with a total value of $32,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 11.70% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its holdings in Global Medical REIT by 186.6% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,443 shares of the company’s stock valued at $51,000 after buying an additional 2,893 shares during the period. Financial Advantage Inc. grew its holdings in Global Medical REIT by 47.6% in the 3rd quarter. Financial Advantage Inc. now owns 4,795 shares of the company’s stock valued at $54,000 after buying an additional 1,546 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Global Medical REIT by 64.1% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,746 shares of the company’s stock valued at $60,000 after buying an additional 2,245 shares during the period. Nisa Investment Advisors LLC grew its holdings in Global Medical REIT by 19.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 9,506 shares of the company’s stock valued at $108,000 after buying an additional 1,562 shares during the period. Finally, Corrado Advisors LLC purchased a new stake in Global Medical REIT in the 3rd quarter valued at about $122,000. Institutional investors own 47.67% of the company’s stock.

Global Medical REIT Company Profile

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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