Global Medical REIT (GMRE) Coverage Initiated at Robert W. Baird
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.
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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