Global Medical REIT (NYSE:GMRE) Rating Lowered to Sell at Wall Street Zen

Global Medical REIT (NYSE:GMRE) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other research firms also recently weighed in on GMRE. Robert W. Baird decreased their price target on shares of Global Medical REIT from $10.00 to $9.00 and set a “neutral” rating on the stock in a research note on Thursday, May 8th. B. Riley assumed coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They issued a “neutral” rating and a $9.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.44.

Global Medical REIT Stock Performance

NYSE GMRE opened at $6.21 on Thursday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The stock’s 50 day simple moving average is $7.56 and its 200-day simple moving average is $8.05. The company has a market cap of $415.47 million, a PE ratio of -310.49, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. Global Medical REIT has a 1-year low of $6.06 and a 1-year high of $10.46.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The company had revenue of $34.60 million for the quarter, compared to analyst estimates of $35.49 million. As a group, equities research analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Institutional Investors Weigh In On Global Medical REIT

A number of hedge funds have recently modified their holdings of GMRE. Quarry LP boosted its holdings in Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after purchasing an additional 2,604 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Global Medical REIT by 58.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock valued at $48,000 after acquiring an additional 2,301 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Global Medical REIT by 11,234.4% in the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company’s stock valued at $63,000 after acquiring an additional 7,190 shares during the last quarter. State of Wyoming purchased a new position in Global Medical REIT in the first quarter worth approximately $65,000. Finally, Squarepoint Ops LLC acquired a new stake in Global Medical REIT during the fourth quarter worth $82,000. Hedge funds and other institutional investors own 57.52% of the company’s stock.

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.