The stock of Global Medical REIT Inc (NYSE:GMRE) hit a new 52-week low and has $7.29 target or 14.00% below today’s $8.48 share price. The 8 months bearish chart indicates high risk for the $134.44 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $7.29 price target is reached, the company will be worth $18.82 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 67,038 shares traded hands. Global Medical REIT Inc (NYSE:GMRE) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
Global Medical REIT Inc (NYSE:GMRE) Ratings Coverage
Out of 3 analysts covering Global Medical… (NYSE:GMRE), 1 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 33% are positive. Global Medical… has been the topic of 4 analyst reports since July 11, 2016 according to StockzIntelligence Inc. The firm earned “Buy” rating on Monday, July 11 by Wunderlich. Compass Point initiated the stock with “Buy” rating in Monday, July 11 report. The rating was initiated by BB&T Capital with “Hold” on Monday, July 11. The rating was downgraded by Compass Point to “Neutral” on Tuesday, September 20.
According to Zacks Investment Research, “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.”
More notable recent Global Medical REIT Inc (NYSE:GMRE) news were published by: Businesswire.com which released: “Global Medical REIT Inc. Provides Acquisition Update” on September 15, 2016, also Crainscleveland.com with their article: “Global Medical REIT Inc. plans to buy first Ohio properties for $10 million” published on September 16, 2016, Marketwatch.com published: “Global Medical REIT Inc.” on February 11, 2014. More interesting news about Global Medical REIT Inc (NYSE:GMRE) were released by: Businesswire.com and their article: “Global Medical REIT Inc. Announces Closing of Multiple Acquisitions of Medical …” published on October 10, 2016 as well as Businesswire.com‘s news article titled: “Global Medical REIT Inc. Schedules 2016 Third Quarter Financial Results …” with publication date: October 13, 2016.
GMRE Company Profile
Global Medical REIT Inc., incorporated on January 6, 2014, focuses on operating as a real estate investment trust. The Firm is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Firm seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers. The Company’s healthcare facilities are typically leased, or under contract to be leased, under long-term triple-net leases on the date of purchase. The Firm may acquire existing healthcare facilities under sale-leaseback or similar arrangements, or it may contract to purchase facilities under development that are being built to an operator’s specifications. The Company’s tenant-operators are primarily physician group tenant-operators, community hospital tenant-operators and corporate medical treatment chain operators.
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