Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
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. “
Separately, Janney Montgomery Scott assumed coverage on shares of Global Medical REIT in a research note on Thursday, February 23rd. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $11.65.
Shares of Global Medical REIT (NASDAQ:GMRE) traded down 0.24% during mid-day trading on Monday, reaching $8.32. The company’s stock had a trading volume of 48,958 shares. The firm’s 50 day moving average price is $8.48 and its 200-day moving average price is $8.91. Global Medical REIT has a 1-year low of $6.73 and a 1-year high of $11.38.
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A number of hedge funds have recently made changes to their positions in GMRE. IPG Investment Advisors LLC purchased a new stake in shares of Global Medical REIT during the third quarter worth about $112,000. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Global Medical REIT during the third quarter worth about $140,000. BB&T Securities LLC purchased a new stake in shares of Global Medical REIT during the third quarter worth about $145,000. GRT Capital Partners L.L.C. raised its stake in shares of Global Medical REIT by 7.5% in the fourth quarter. GRT Capital Partners L.L.C. now owns 17,576 shares of the company’s stock worth $157,000 after buying an additional 1,220 shares during the period. Finally, Wedbush Securities Inc. purchased a new stake in shares of Global Medical REIT during the third quarter worth about $164,000.
About Global Medical REIT
Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.
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