Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday.

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. “

A number of other analysts also recently commented on GMRE. Compass Point downgraded Global Medical REIT from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 20th. Wunderlich downgraded Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Thursday, November 10th. Finally, DA Davidson set a $12.00 price objective on Global Medical REIT and gave the stock a “buy” rating in a research report on Thursday, November 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $11.65.

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

Global Medical REIT (NASDAQ:GMRE) opened at 7.33 on Monday. Global Medical REIT has a 1-year low of $6.73 and a 1-year high of $11.38. The stock has a 50 day moving average price of $8.53 and a 200 day moving average price of $9.77.

Global Medical REIT (NASDAQ:GMRE) last announced its quarterly earnings data on Thursday, November 10th. The company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.01) by $0.02. The business earned $2 million during the quarter, compared to the consensus estimate of $2.40 million. On average, analysts anticipate that Global Medical REIT will post ($0.54) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of GMRE. Crow Point Partners LLC bought a new position in Global Medical REIT during the third quarter valued at approximately $8,882,000. BlackRock Fund Advisors acquired a new stake in Global Medical REIT during the third quarter worth $4,242,000. Emerald Mutual Fund Advisers Trust acquired a new stake in Global Medical REIT during the second quarter worth $3,873,000. Emerald Advisers Inc. PA acquired a new stake in Global Medical REIT during the second quarter worth $3,709,000. Finally, Columbia Partners L L C Investment Management acquired a new stake in Global Medical REIT during the second quarter worth $2,905,000.

Global Medical REIT Company Profile

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

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