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

Investment analysts at B. Riley began coverage on shares of Global Medical REIT (NYSE:GMRE) in a research report issued on Thursday. The firm set a “neutral” rating and a $9.00 price target on the stock. B. Riley’s target price points to a potential upside of 4.65% from the stock’s current price.

Global Medical REIT Stock Down 1.4 %

Shares of NYSE:GMRE opened at $8.60 on Thursday. Global Medical REIT has a 1 year low of $7.33 and a 1 year 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 business’s 50-day moving average is $8.40 and its 200-day moving average is $8.65. The company has a market capitalization of $575.09 million, a price-to-earnings ratio of -429.79, a P/E/G ratio of 1.43 and a beta of 1.12.

Global Medical REIT (NYSE:GMRE) last issued its earnings results on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. The business had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. Equities research analysts predict that Global Medical REIT will post 0.81 earnings per share for the current year.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors have recently made changes to their positions in GMRE. Quarry LP increased its position in Global Medical REIT by 111.5% in the 4th quarter. Quarry LP now owns 4,940 shares of the company’s stock valued at $38,000 after buying an additional 2,604 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Global Medical REIT by 58.1% in the fourth 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 during the period. Squarepoint Ops LLC bought a new stake in shares of Global Medical REIT during the fourth quarter valued at approximately $82,000. Corton Capital Inc. bought a new stake in shares of Global Medical REIT during the fourth quarter valued at approximately $85,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Global Medical REIT during the fourth quarter worth approximately $91,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.