Global Medical REIT (NYSE:XRN) Given New $35.00 Price Target at Citizens Jmp

Key Points

• Citizens JMP cut its price target on Global Medical REIT from $42 to $35, while maintaining a “market outperform” rating; the new target implies 30.55% upside from the current share price.
• Analyst views are mixed, with the stock carrying a consensus “Hold” rating and an average price target of $38.60. Recent ratings included downgrades from Weiss Ratings and Wall Street Zen.
• Global Medical REIT reported quarterly EPS of -$0.67, missing the consensus estimate of $0.55, and revenue of $40.34 million.

Global Medical REIT (NYSE:XRN - Get Free Report) had its target price lowered by analysts at Citizens Jmp from $42.00 to $35.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a "market outperform" rating on the stock. Citizens Jmp's price target indicates a potential upside of 30.55% from the stock's current price.

Several other analysts also recently issued reports on the company. Weiss Ratings downgraded Global Medical REIT from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Saturday, October 10th. Huntington assumed coverage on Global Medical REIT in a research note on Wednesday, November 4th. They set a "hold" rating on the stock. Zacks Research upgraded shares of Global Medical REIT to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Cantor Fitzgerald started coverage on shares of Global Medical REIT in a research note on Monday, September 21st. They set an "overweight" rating and a $43.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $38.60.

Global Medical REIT Stock Performance

NYSE XRN opened at $26.81 on Wednesday. Global Medical REIT has a 1-year low of $26.19 and a 1-year high of $38.65. The company has a 50 day moving average of $33.19 and a 200-day moving average of $35.21. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. The firm has a market cap of $354.91 million, a price-to-earnings ratio of 7.66 and a beta of 1.10.

Global Medical REIT (NYSE:XRN - Get Free Report) last announced its earnings results on Wednesday, November 4th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of $0.55 by ($1.22). Global Medical REIT had a return on equity of 13.65% and a net margin of 36.80%. The business had revenue of $40.34 million during the quarter. On average, equities analysts forecast that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Company Profile

Global Medical REIT, Inc. is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers. Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.

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