Alliance Global Partners Begins Coverage on Global Medical REIT (NYSE:GMRE)

Research analysts at Alliance Global Partners initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a research 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 would indicate a potential upside of 23.33% from the company’s previous close.

Global Medical REIT Stock Down 4.2 %

GMRE stock opened at $9.73 on Thursday. Global Medical REIT has a one year low of $7.98 and a one year high of $11.59. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm’s fifty day moving average is $9.43 and its 200 day moving average is $8.99. The firm has a market cap of $638.17 million, a PE ratio of 42.30, a P/E/G ratio of 1.39 and a beta of 1.24.

Global Medical REIT (NYSE:GMRE) last posted its 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 for the quarter, compared to analyst estimates of $35.24 million. During the same quarter last year, the business earned $0.23 earnings per share. On average, research analysts forecast that Global Medical REIT will post 0.85 EPS for the current year.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently added to or reduced their stakes in the stock. Quadrant Capital Group LLC raised its holdings in shares of Global Medical REIT by 41.5% during the fourth quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after acquiring an additional 1,666 shares during the last quarter. Creekmur Asset Management LLC purchased a new position in Global Medical REIT in the 4th quarter valued at $92,000. Gordian Capital Singapore Pte Ltd purchased a new position in Global Medical REIT in the 2nd quarter valued at $100,000. M&G Plc acquired a new stake in Global Medical REIT during the 1st quarter worth $141,000. Finally, BTC Capital Management Inc. purchased a new stake in shares of Global Medical REIT during the first quarter worth $143,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

About Global Medical REIT

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.