Fri Sep 20 09:14:49 UTC 2024: ## Global Medical REIT (GMRE) Stock Gaps Up on Positive Analyst Coverage

**New York, NY (MarketBeat News)** – Shares of Global Medical REIT Inc. (NYSE:GMRE) jumped in early trading on Wednesday, opening at $10.36 after closing at $10.15 the previous day. The stock’s surge followed a bullish report from Alliance Global Partners, who initiated coverage on GMRE with a “buy” rating and a $12.00 price target.

Despite missing analysts’ earnings estimates in the second quarter, GMRE has remained a popular pick among institutional investors. Several firms, including Gordian Capital Singapore Pte Ltd, The Manufacturers Life Insurance Company, and AQR Capital Management LLC, have increased their holdings in the REIT in recent months.

The company also recently declared a quarterly dividend of $0.21, representing an annualized yield of 8.26%. This comes as the company focuses on growing its portfolio of healthcare facilities, which it leases to physician groups and healthcare systems.

“GMRE remains a strong play in the healthcare real estate market,” said an analyst at Alliance Global Partners. “The company’s focus on medical office buildings provides a stable and growing revenue stream, and the recent analyst upgrade is a positive sign for the company’s future prospects.”

GMRE’s stock is currently trading at $10.19 with a volume of 20,854 shares.

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