Berenberg Bank Initiates Coverage on Global Medical REIT (NYSE:GMRE)

Equities researchers at Berenberg Bank assumed coverage on shares of Global Medical REIT (NYSE:GMRE) in a research report issued on Friday, MarketBeat Ratings reports. The firm set a “buy” rating and a $11.75 price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 22.52% from the company’s previous close.

Separately, Alliance Global Partners began coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They set a “buy” rating and a $12.00 price target on the stock.

Global Medical REIT Stock Up 1.2 %

NYSE GMRE opened at $9.59 on Friday. The company has a market cap of $628.99 million, a price-to-earnings ratio of 41.70, a PEG ratio of 1.37 and a beta of 1.25. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average of $9.47 and a 200-day moving average of $9.11.

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

Institutional Investors Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently modified their holdings of the company. LSV Asset Management raised its holdings in shares of Global Medical REIT by 114.0% in the 1st quarter. LSV Asset Management now owns 1,038,650 shares of the company’s stock worth $9,088,000 after acquiring an additional 553,408 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Global Medical REIT by 78.5% during the second quarter. Bank of New York Mellon Corp now owns 1,183,477 shares of the company’s stock valued at $10,746,000 after buying an additional 520,583 shares during the last quarter. Wellington Management Group LLP bought a new stake in Global Medical REIT during the fourth quarter worth $3,475,000. Price T Rowe Associates Inc. MD raised its position in Global Medical REIT by 788.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 130,560 shares of the company’s stock valued at $1,143,000 after buying an additional 115,866 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in Global Medical REIT by 10.0% during the 1st quarter. Sound Income Strategies LLC now owns 1,075,129 shares of the company’s stock valued at $9,407,000 after acquiring an additional 97,630 shares in the last quarter. Institutional investors 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.