Investment analysts at Robert W. Baird assumed coverage on shares of Global Medical REIT (NYSE:GMRE) in a research note issued to investors on Thursday, Marketbeat.com reports. The firm set an “outperform” rating and a $11.00 price target on the stock. Robert W. Baird’s price target indicates a potential upside of 24.29% from the company’s current price.

A number of other equities research analysts have also issued reports on GMRE. Boenning Scattergood restated a “neutral” rating on shares of Global Medical REIT in a report on Friday, June 29th. TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a report on Friday, June 29th. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Wednesday, July 18th. Finally, B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the company a “buy” rating in a report on Friday, August 10th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $10.40.

Shares of GMRE stock traded down $0.09 during trading hours on Thursday, reaching $8.85. 130,533 shares of the stock traded hands, compared to its average volume of 129,509. Global Medical REIT has a 1-year low of $6.34 and a 1-year high of $10.05. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14. The firm has a market capitalization of $203.76 million, a P/E ratio of 16.39, a P/E/G ratio of 1.27 and a beta of 0.54.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%. The firm had revenue of $13.25 million for the quarter, compared to analyst estimates of $12.86 million. Sell-side analysts predict that Global Medical REIT will post 0.83 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC acquired a new position in Global Medical REIT in the 2nd quarter valued at approximately $194,000. A.R.T. Advisors LLC increased its stake in Global Medical REIT by 126.4% in the 1st quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock valued at $195,000 after buying an additional 15,703 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Global Medical REIT in the 1st quarter valued at approximately $224,000. Citigroup Inc. increased its stake in Global Medical REIT by 511.1% in the 1st quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock valued at $242,000 after buying an additional 29,127 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in Global Medical REIT by 32.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock valued at $334,000 after buying an additional 9,200 shares during the period. Hedge funds and other institutional investors own 41.99% 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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Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

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