Robert W. Baird Lowers Global Medical REIT (NYSE:GMRE) Price Target to $9.00

Global Medical REIT (NYSE:GMRE) had its price objective dropped by stock analysts at Robert W. Baird from $10.00 to $9.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 31.77% from the stock’s previous close.

Separately, B. Riley started coverage on shares of Global Medical REIT in a report on Thursday, April 3rd. They issued 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. Global Medical REIT has a 1-year low of $6.75 and a 1-year high of $10.46. The business has a fifty day moving average price of $8.00 and a 200 day moving average price of $8.23. The stock has a market capitalization of $456.73 million, a P/E ratio of -341.33, a price-to-earnings-growth ratio of 1.43 and a beta of 1.23. 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 EPS for the quarter, meeting the consensus estimate of $0.22. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The business had revenue of $34.60 million during the quarter, compared to analyst estimates of $35.49 million. Equities research analysts expect that Global Medical REIT will post 0.81 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Global Medical REIT by 1.3% during the first quarter. Vanguard Group Inc. now owns 6,400,340 shares of the company’s stock valued at $56,003,000 after buying an additional 82,503 shares during the last quarter. Geode Capital Management LLC lifted its position in Global Medical REIT by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 1,647,979 shares of the company’s stock worth $12,724,000 after acquiring an additional 25,820 shares during the period. Brown Advisory Inc. grew its stake in Global Medical REIT by 21.3% during the 1st quarter. Brown Advisory Inc. now owns 1,616,524 shares of the company’s stock valued at $14,145,000 after purchasing an additional 283,581 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Global Medical REIT by 10.3% in the first quarter. Bank of New York Mellon Corp now owns 1,550,157 shares of the company’s stock valued at $13,564,000 after purchasing an additional 144,671 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Global Medical REIT by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,260,098 shares of the company’s stock worth $9,728,000 after purchasing an additional 128,449 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.