Wunderlich Downgrades Global Medical REIT to Hold

By Carrie Williams

In a report released today, Craig Kucera from Wunderlich downgraded Global Medical REIT (NYSE: GMRE) to Hold, with a price target of $9. The company’s shares opened today at $8.24, close to its 52-week low of $8.11.

According to TipRanks.com, Kucera is a 4-star analyst with an average return of 6.4% and a 68.6% success rate. Kucera covers the Financial sector, focusing on stocks such as Preferred Apartment Communities, Urstadt Biddle Properties Inc., and Bluerock Residential Growth.

Global Medical REIT has an analyst consensus of Hold, with a price target consensus of $9.

Based on Global Medical REIT’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $1.77 million and GAAP net loss of $494.2K. In comparison, last year the company earned revenue of $487.1K and had a GAAP net loss of $497.8K.

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.