Global Medical REIT (NYSE:GMRE) Coverage Initiated at B. Riley

Investment analysts at B. Riley initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $9.00 price target on the stock. B. Riley’s price target suggests a potential upside of 16.50% from the company’s current price.

Global Medical REIT Trading Down 3.7 %

NYSE:GMRE opened at $7.73 on Thursday. The stock has a market cap of $516.58 million, a PE ratio of -386.06, a price-to-earnings-growth ratio of 1.43 and a beta of 1.12. Global Medical REIT has a fifty-two week low of $7.33 and a fifty-two week high of $10.46. 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 moving average is $8.40 and its two-hundred day moving average is $8.63.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. The firm had revenue of $35.16 million for the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. As a group, equities research analysts forecast that Global Medical REIT will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Global Medical REIT

Several institutional investors have recently made changes to their positions in GMRE. Cutler Capital Management LLC lifted its stake in shares of Global Medical REIT by 0.3% in the 4th quarter. Cutler Capital Management LLC now owns 450,279 shares of the company’s stock valued at $3,476,000 after purchasing an additional 1,376 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Global Medical REIT by 2.5% during the 4th quarter. Legal & General Group Plc now owns 61,525 shares of the company’s stock worth $475,000 after acquiring an additional 1,496 shares in the last quarter. Zacks Investment Management boosted its stake in shares of Global Medical REIT by 12.9% during the 3rd quarter. Zacks Investment Management now owns 14,803 shares of the company’s stock worth $147,000 after acquiring an additional 1,696 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Global Medical REIT by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 12,646 shares of the company’s stock valued at $98,000 after acquiring an additional 1,819 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Global Medical REIT by 58.1% in the 4th 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 in the last quarter. 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.