Global Medical REIT (GMRE) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Global Medical REIT (NYSE:GMRE) from a hold rating to a buy rating in a report issued on Tuesday. The firm currently has $9.50 price target on the stock.

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. “

GMRE has been the topic of a number of other reports. B. Riley restated a buy rating and issued a $10.50 target price on shares of Global Medical REIT in a research note on Friday, November 10th. FBR & Co restated a buy rating and issued a $10.50 target price (up from $10.00) on shares of Global Medical REIT in a research note on Monday, September 18th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $10.50.

Shares of Global Medical REIT (NYSE:GMRE) traded up $0.07 during trading hours on Tuesday, reaching $8.38. 102,500 shares of the company traded hands, compared to its average volume of 131,575. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22. The company has a market cap of $181.27, a P/E ratio of -41.90, a price-to-earnings-growth ratio of 1.38 and a beta of -48.24. Global Medical REIT has a one year low of $7.85 and a one year high of $10.25.

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 9.55%. Global Medical REIT’s dividend payout ratio is currently -400.00%.

Several institutional investors and hedge funds have recently made changes to their positions in GMRE. Rhumbline Advisers lifted its position in shares of Global Medical REIT by 47.6% in the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after purchasing an additional 5,710 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Global Medical REIT by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,481 shares of the company’s stock worth $1,229,000 after purchasing an additional 11,126 shares during the period. Neuberger Berman Group LLC lifted its position in shares of Global Medical REIT by 303.0% in the 2nd quarter. Neuberger Berman Group LLC now owns 266,815 shares of the company’s stock worth $2,385,000 after purchasing an additional 200,606 shares during the period. Wells Fargo & Company MN lifted its position in shares of Global Medical REIT by 20.6% in the 2nd quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock worth $239,000 after purchasing an additional 4,589 shares during the period. Finally, Teachers Advisors LLC lifted its position in shares of Global Medical REIT by 5.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock worth $235,000 after purchasing an additional 1,243 shares during the period. 41.00% of the stock is owned by hedge funds and other institutional investors.

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