Global Medical REIT Inc (GMRE) Downgraded by Zacks Investment Research to Sell

Global Medical REIT Inc (NASDAQ:GMRE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

According to Zacks, “Global Medical REIT Inc. is engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to clinical operators. Global Medical REIT Inc. is based in Denver, United States. “

Separately, Janney Montgomery Scott initiated coverage on Global Medical REIT in a research report on Thursday, February 23rd. They issued a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Global Medical REIT currently has a consensus rating of “Hold” and an average target price of $11.65.

Analyst Recommendations for Global Medical REIT (NASDAQ:GMRE)

Global Medical REIT (NASDAQ:GMRE) traded down 0.24% during mid-day trading on Monday, hitting $8.32. The stock had a trading volume of 48,958 shares. Global Medical REIT has a 52-week low of $6.73 and a 52-week high of $11.38. The firm has a 50-day moving average of $8.48 and a 200-day moving average of $8.91.

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A number of hedge funds have recently made changes to their positions in GMRE. Goodwin Daniel L purchased a new stake in shares of Global Medical REIT during the third quarter worth about $505,000. State of New Jersey Common Pension Fund D raised its stake in shares of Global Medical REIT by 42.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 285,000 shares of the company’s stock worth $2,782,000 after buying an additional 85,000 shares during the last quarter. Monarch Partners Asset Management LLC purchased a new stake in shares of Global Medical REIT during the third quarter worth about $379,000. Strs Ohio purchased a new stake in shares of Global Medical REIT during the third quarter worth about $240,000. Finally, Emerald Mutual Fund Advisers Trust raised its stake in shares of Global Medical REIT by 3.0% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 394,420 shares of the company’s stock worth $3,850,000 after buying an additional 11,310 shares during the last quarter.

About Global Medical REIT

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

5 Day Chart for NASDAQ:GMRE

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