Zacks Investment Research lowered shares of Global Medical REIT (NYSE:GMRE) from a buy rating to a hold rating in a report issued on Friday.

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. “

Other analysts have also recently issued research reports about the stock. B. Riley restated a buy rating and set a $10.50 target price on shares of Global Medical REIT in a report on Friday, November 10th. FBR & Co restated a buy rating and set a $10.50 target price (up previously from $10.00) on shares of Global Medical REIT in a report on Monday, September 18th. Finally, Cantor Fitzgerald restated an overweight rating and set a $12.00 target price on shares of Global Medical REIT in a report on Friday, September 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $10.60.

Shares of Global Medical REIT (NYSE GMRE) traded up $0.12 during mid-day trading on Friday, hitting $8.28. 340,847 shares of the stock were exchanged, compared to its average volume of 365,526. Global Medical REIT has a 1 year low of $7.85 and a 1 year high of $10.25. The company has a market cap of $180.83, a PE ratio of -30.67, a PEG ratio of 2.86 and a beta of -0.18. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 9.66%. The ex-dividend date is Friday, December 22nd. Global Medical REIT’s dividend payout ratio is presently -296.30%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. D.A. Davidson & CO. raised its position in Global Medical REIT by 36.0% in the 3rd quarter. D.A. Davidson & CO. now owns 104,430 shares of the company’s stock worth $937,000 after buying an additional 27,667 shares during the last quarter. State of Wisconsin Investment Board raised its position in Global Medical REIT by 20.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 433,050 shares of the company’s stock worth $3,871,000 after buying an additional 72,100 shares during the last quarter. Goldman Sachs Group Inc. purchased a new position in Global Medical REIT in the 2nd quarter worth about $339,000. BB&T Securities LLC raised its position in Global Medical REIT by 23.1% in the 3rd quarter. BB&T Securities LLC now owns 91,487 shares of the company’s stock worth $821,000 after buying an additional 17,145 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Global Medical REIT by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,481 shares of the company’s stock worth $1,229,000 after buying an additional 11,126 shares during the last quarter. 41.00% of the stock is owned by hedge funds and other institutional investors.

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About Global Medical REIT

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