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 Tuesday.
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. “
Get Global Medical REIT alerts:Several other research analysts have also commented on GMRE. B. Riley set a $11.00 price target on Global Medical REIT and gave the stock a “buy” rating in a report on Friday. Boenning Scattergood reiterated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Finally, Janney Montgomery Scott lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 target price on the stock. in a report on Wednesday, December 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $10.17.
GMRE traded up $0.09 during trading on Tuesday, hitting $10.42. 771,191 shares of the stock traded hands, compared to its average volume of 157,750. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.09 and a quick ratio of 0.09. Global Medical REIT has a twelve month low of $6.34 and a twelve month high of $10.76. The company has a market cap of $234.97 million, a P/E ratio of 19.30, a P/E/G ratio of 1.32 and a beta of 0.58.
In other news, major shareholder Zh Usa, Llc acquired 1,111,111 shares of the firm’s stock in a transaction on Friday, December 14th. The shares were purchased at an average price of $9.00 per share, for a total transaction of $9,999,999.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of GMRE. D. E. Shaw & Co. Inc. bought a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $89,000. Bank of America Corp DE increased its stake in shares of Global Medical REIT by 113.3% during the fourth quarter. Bank of America Corp DE now owns 10,296 shares of the company’s stock worth $92,000 after buying an additional 5,470 shares during the period. Schnieders Capital Management LLC acquired a new position in shares of Global Medical REIT in the 4th quarter valued at approximately $116,000. Squarepoint Ops LLC bought a new position in Global Medical REIT during the fourth quarter worth about $118,000. Finally, State Board of Administration of Florida Retirement System increased its position in Global Medical REIT by 10.5% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,526 shares of the company’s stock valued at $138,000 after purchasing an additional 1,474 shares during the period. 42.36% of the stock is currently owned by institutional investors.
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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