Global Medical REIT Upgraded by Zacks Investment Research to “Buy”

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Zacks Investment Research upgraded shares of Global Medical REIT (NYSE:GMRE) from a hold rating to a buy rating in a research report just sent to investors.

 Zacks Investment Research currently has $11.00 price target on the stock. 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. “

Several other analysts also recently issued reports on the company. Janney Montgomery Scott downgraded Global Medical REIT from a buy rating to a neutral rating and set a $9.03 target price on the stock. in a research note on Wednesday, December 19th. B. Riley reissued a buy rating on shares of Global Medical REIT in a research note on Monday, November 12th. Finally, Boenning Scattergood raised Global Medical REIT from a neutral rating to a buy rating and set a $11.00 target price on the stock in a research note on Wednesday, November 7th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $10.43.

Shares of GMRE opened at $10.28 on Wednesday. The company has a market cap of $229.17 million, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.25 and a beta of 0.58. Global Medical REIT has a 12-month low of $6.34 and a 12-month high of $10.47. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.09 and a current ratio of 0.09.

In other news, major shareholder Zh Usa, Llc acquired 1,111,111 shares of Global Medical REIT stock in a transaction on Friday, December 14th. The shares were acquired at an average price of $9.00 per share, with a total value of $9,999,999.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.00% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Schnieders Capital Management LLC bought a new stake in Global Medical REIT in the 4th quarter worth approximately $116,000. State Board of Administration of Florida Retirement System increased its stake in Global Medical REIT by 10.5% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 15,526 shares of the company’s stock worth $138,000 after acquiring an additional 1,474 shares during the last quarter.

Advisor Group Inc. increased its stake in Global Medical REIT by 84.7% in the 4th quarter. Advisor Group Inc. now owns 17,184 shares of the company’s stock worth $153,000 after acquiring an additional 7,881 shares during the last quarter.

B. Riley Wealth Management Inc. bought a new stake in Global Medical REIT in the 3rd quarter worth approximately $251,000.

Finally, Wiley BROS. Aintree Capital LLC bought a new stake in Global Medical REIT in the 4th quarter worth approximately $262,000. 42.68% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Company Profile

Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

Analyst Recommendations for Global Medical REIT (NYSE:GMRE)

Click here To get a free copy of the Zacks research report on Global Medical REIT (GMRE). For more information about research offerings from Zacks Investment Research, visit Zacks.com.

 

Source: Fairfield Current

Healthcare Realty: 4Q Earnings Snapshot

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Healthcare Realty Trust Inc. (HR) just reported a key measure of profitability in its fourth quarter, and the results met Wall Street expectations.

The Nashville, Tennessee-based real estate investment trust said it had funds from operations of $49.1 million, or 40 cents per share, in the period. The average estimate of eight analysts surveyed by Zacks Investment Research was for funds from operations of 40 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization. The company said it had net income of $16.3 million, or 13 cents per share.

The real estate investment trust, based in Nashville, Tennessee, posted revenue of $113.2 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $114.3 million.

For the year, the company reported funds from operations of $195.3 million, or $1.57 per share. Revenue was reported as $450.4 million. The company’s shares have increased 13 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $32.13, a rise of 14 percent in the last 12 months.

 

Source: US News & World Report

UCHealth Plans New 11-Story Tower In $388 Million Aurora Expansion

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UCHealth University of Colorado Hospital  plans to build an 11-story tower at its location at Anschutz Medical Campus in Aurora, a roughly $388 million expansion that will add 103 inpatient beds.

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