Alliance Global Partners initiated coverage on shares of Global Medical REIT (NYSE:GMRE – Free Report) in a report published on Thursday, Marketbeat reports. The brokerage issued a buy rating and a $12.00 target price on the stock.
Global Medical REIT Trading Down 2.3 %
GMRE opened at $9.72 on Thursday. The stock has a market capitalization of $637.52 million, a PE ratio of 42.26, a P/E/G ratio of 1.39 and a beta of 1.24. The firm’s fifty day moving average price is $9.43 and its 200 day moving average price is $8.99. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. Global Medical REIT has a 12-month low of $7.98 and a 12-month high of $11.59.
Global Medical REIT (NYSE:GMRE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.25). The company had revenue of $34.24 million during the quarter, compared to analyst estimates of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, research analysts expect that Global Medical REIT will post 0.85 EPS for the current fiscal year.
Global Medical REIT Dividend Announcement
Hedge Funds Weigh In On Global Medical REIT
Institutional investors have recently modified their holdings of the company. LSV Asset Management grew its position in Global Medical REIT by 114.0% in the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock valued at $9,088,000 after buying an additional 553,408 shares in the last quarter. Bank of New York Mellon Corp grew its position in Global Medical REIT by 78.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after buying an additional 520,583 shares in the last quarter. Wellington Management Group LLP bought a new position in Global Medical REIT in the 4th quarter valued at about $3,475,000. Price T Rowe Associates Inc. MD grew its position in Global Medical REIT by 788.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after buying an additional 115,866 shares in the last quarter. Finally, Sound Income Strategies LLC grew its position in Global Medical REIT by 10.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after buying an additional 97,630 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.
About Global Medical REIT
Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.
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