Global Medical REIT’s (GMRE) Buy Rating Reiterated at B. Riley

B. Riley reissued their buy rating on shares of Global Medical REIT, Inc. (NASDAQ:GMRE) in a research report report published on Friday morning. The firm currently has a $10.50 price objective on the stock. B. Riley also issued estimates for Global Medical REIT’s Q4 2017 earnings at $0.12 EPS, FY2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.15 EPS, Q2 2018 earnings at $0.19 EPS, Q3 2018 earnings at $0.24 EPS, FY2018 earnings at $0.83 EPS, Q1 2019 earnings at $0.25 EPS, Q2 2019 earnings at $0.25 EPS and FY2019 earnings at $1.01 EPS.

A number of other brokerages have also recently commented on GMRE. Zacks Investment Research cut shares of Global Medical REIT from a hold rating to a sell rating in a research report on Tuesday, November 7th. FBR & Co reiterated a buy rating and issued a $10.50 target price (up from $10.00) on shares of Global Medical REIT in a research report on Monday, September 18th. Cantor Fitzgerald reiterated an overweight rating and issued a $12.00 target price on shares of Global Medical REIT in a research report on Friday, September 1st. Finally, DA Davidson cut shares of Global Medical REIT from a buy rating to a neutral rating and reduced their target price for the company from $11.00 to $10.00 in a research report on Tuesday, August 22nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of Buy and an average target price of $10.60.

Shares of Global Medical REIT (NASDAQ:GMRE) traded up $0.13 during midday trading on Friday, hitting $9.28. 147,200 shares of the stock were exchanged, compared to its average volume of 133,216. Global Medical REIT has a 1-year low of $7.04 and a 1-year high of $10.25.

Global Medical REIT (NASDAQ:GMRE) last issued its earnings results on Thursday, August 10th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.17). The business had revenue of $7.42 million during the quarter, compared to analyst estimates of $6.16 million. Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%.

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A number of institutional investors have recently added to or reduced their stakes in GMRE. UBS Group AG increased its position in Global Medical REIT by 14.2% during the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock worth $108,000 after purchasing an additional 1,477 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Global Medical REIT during the third quarter worth about $115,000. Spirit of America Management Corp NY increased its position in Global Medical REIT by 50.0% during the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock worth $134,000 after purchasing an additional 5,000 shares during the last quarter. Wedbush Securities Inc. increased its position in Global Medical REIT by 5.8% during the second quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock worth $137,000 after purchasing an additional 834 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Global Medical REIT during the third quarter worth about $154,000.

About Global Medical REIT

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

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