Citizens Jmp Has Lowered Expectations for Global Medical REIT (NYSE:XRN) Stock Price

Global Medical REIT (NYSE:XRN) had its price target reduced by investment analysts at Citizens Jmp from $42.00 to $35.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “market outperform” rating on the stock. Citizens Jmp‘s price target points to a potential upside of 30.55% from the stock’s current price.

Several other equities research analysts have also commented on XRN. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Weiss Ratings cut shares of Global Medical REIT from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. Huntington started coverage on shares of Global Medical REIT in a report on Wednesday, November 4th. They set a “hold” rating for the company. Cantor Fitzgerald started coverage on shares of Global Medical REIT in a research report on Monday, September 21st. They set an “overweight” rating and a $43.00 price target on the stock. Finally, Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.60.

Global Medical REIT Price Performance

Global Medical REIT stock opened at $26.81 on Wednesday. Global Medical REIT has a 52-week low of $26.19 and a 52-week high of $38.65. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. The firm’s fifty day moving average is $33.19 and its 200 day moving average is $35.21. The company has a market cap of $354.91 million, a price-to-earnings ratio of 7.66 and a beta of 1.10.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($1.22). Global Medical REIT had a return on equity of 13.65% and a net margin of 36.80%. The business had revenue of $40.34 million during the quarter. Sell-side analysts forecast that Global Medical REIT will post 2.89 EPS for the current fiscal year.

About Global Medical REIT

Global Medical REIT, Inc. is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers. Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.