Robert W. Baird Issues Pessimistic Forecast for Global Medical REIT (NYSE:GMRE) Stock Price

Global Medical REIT (NYSE:GMRE) had its price target reduced by equities research analysts at Robert W. Baird from $10.00 to $9.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s target price suggests a potential upside of 31.77% from the company’s previous close.

Separately, B. Riley started coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They set a “neutral” rating and a $9.00 price target on the stock.

Global Medical REIT Trading Down 1.6 %

Shares of NYSE GMRE opened at $6.83 on Thursday. The stock has a market capitalization of $456.73 million, a P/E ratio of -341.33, a PEG ratio of 1.43 and a beta of 1.23. Global Medical REIT has a 1-year low of $6.75 and a 1-year high of $10.46. The business’s 50 day moving average is $8.00 and its two-hundred day moving average is $8.23. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28.

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

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds have recently added to or reduced their stakes in GMRE. Quarry LP boosted its holdings in shares of Global Medical REIT by 111.5% in the fourth 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 period. PNC Financial Services Group Inc. grew its position in shares of Global Medical REIT by 58.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 6,260 shares of the company’s stock worth $48,000 after buying an additional 2,301 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Global Medical REIT by 11,234.4% during the first quarter. GAMMA Investing LLC now owns 7,254 shares of the company’s stock valued at $63,000 after buying an additional 7,190 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Global Medical REIT in the fourth quarter valued at about $82,000. Finally, Corton Capital Inc. purchased a new stake in Global Medical REIT in the fourth quarter worth about $85,000. 57.52% of the stock is currently owned by institutional investors.

Global Medical REIT Company Profile

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.