Alliance Global Partners Initiates Coverage on Global Medical REIT (NYSE:GMRE)

Alliance Global Partners initiated coverage on shares of Global Medical REIT (NYSE:GMRE) in a report released on Thursday, Briefing.com reports. The firm set a “buy” rating and a $12.00 price target on the stock. Alliance Global Partners’ target price would indicate a potential upside of 18.23% from the company’s current price.

Global Medical REIT Stock Performance

Shares of GMRE opened at $10.15 on Thursday. The firm has a market capitalization of $665.72 million, a price-to-earnings ratio of 44.13, a PEG ratio of 1.39 and a beta of 1.24. The company has a debt-to-equity ratio of 1.20, a current ratio of 0.29 and a quick ratio of 0.29. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The company has a 50-day moving average of $9.41 and a 200 day moving average of $8.98.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. The company had revenue of $34.24 million for the quarter, compared to the consensus estimate of $35.24 million. During the same period in the prior year, the firm posted $0.23 EPS. On average, research analysts expect that Global Medical REIT will post 0.85 EPS for the current year.

Institutional Trading of Global Medical REIT

Institutional investors and hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in shares of Global Medical REIT by 41.5% in the 4th quarter. Quadrant Capital Group LLC now owns 5,679 shares of the company’s stock valued at $63,000 after purchasing an additional 1,666 shares in the last quarter. Creekmur Asset Management LLC purchased a new stake in Global Medical REIT during the fourth quarter worth $92,000. Gordian Capital Singapore Pte Ltd purchased a new stake in Global Medical REIT during the second quarter worth $100,000. M&G Plc bought a new stake in Global Medical REIT during the 1st quarter valued at $141,000. Finally, BTC Capital Management Inc. purchased a new position in shares of Global Medical REIT in the 1st quarter valued at $143,000. 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.