Stock analysts at Robert W. Baird started coverage on shares of Global Medical REIT (NYSE:GMRE) in a note issued to investors on Thursday, The Fly reports. The brokerage set an “outperform” rating and a $11.00 price target on the stock. Robert W. Baird’s target price indicates a potential upside of 21.28% from the stock’s previous close.
GMRE has been the subject of several other reports. Zacks Investment Research lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th. Boenning Scattergood reaffirmed a “hold” rating on shares of Global Medical REIT in a report on Thursday, August 9th. TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a report on Friday, June 29th. Finally, B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the company a “buy” rating in a report on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.40.
GMRE opened at $9.07 on Thursday. Global Medical REIT has a 1-year low of $6.34 and a 1-year high of $10.05. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $203.76 million, a PE ratio of 16.80, a P/E/G ratio of 1.27 and a beta of 0.54.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its holdings in shares of Global Medical REIT by 4.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 184,553 shares of the company’s stock valued at $1,635,000 after buying an additional 7,143 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Global Medical REIT by 32.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock valued at $334,000 after purchasing an additional 9,200 shares during the period. Renaissance Technologies LLC boosted its stake in Global Medical REIT by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 172,900 shares of the company’s stock valued at $1,532,000 after purchasing an additional 15,200 shares during the period. A.R.T. Advisors LLC boosted its stake in Global Medical REIT by 126.4% during the 1st quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock valued at $195,000 after purchasing an additional 15,703 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Global Medical REIT during the 2nd quarter valued at about $194,000. 41.99% of the stock is owned by institutional investors and hedge funds.
About Global Medical REIT
Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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