Global Medical REIT (NYSE:GMRE) Now Covered by Alliance Global Partners

Equities research analysts at Alliance Global Partners initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $12.00 price target on the stock. Alliance Global Partners’ price objective suggests a potential upside of 23.33% from the company’s previous close.

Global Medical REIT Price Performance

Shares of GMRE opened at $9.73 on Thursday. The company has a 50 day moving average of $9.43 and a two-hundred day moving average of $8.99. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 1.20. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a market cap of $638.17 million, a price-to-earnings ratio of 42.30, a price-to-earnings-growth ratio of 1.39 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The business had revenue of $34.24 million during the quarter, compared to analysts’ expectations of $35.24 million. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts predict that Global Medical REIT will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of Global Medical REIT

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. LSV Asset Management boosted its holdings in shares of 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 acquiring an additional 553,408 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Global Medical REIT by 78.5% in the second quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after purchasing an additional 520,583 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Global Medical REIT during the 4th quarter worth about $3,475,000. Price T Rowe Associates Inc. MD raised its stake in shares of Global Medical REIT by 788.5% during 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 during the last quarter. Finally, Sound Income Strategies LLC raised its stake in shares of Global Medical REIT by 10.0% during 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 during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Company Profile

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.