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Global Medical REIT (GMRE) Soars 6.4%: Is Further Upside Left in the Stock?

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Global Medical REIT (GMRE - Free Report) shares ended the last trading session 6.4% higher at $7.63. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17.7% loss over the past four weeks.

The increased investor optimism in the stock can be attributed to President Donald Trump’s recent announcement to put a 90-day pause on the reciprocal tariff for most countries.

This real estate investment trust is expected to post quarterly funds from operations (FFO) of $0.22 per share in its upcoming report, which represents a year-over-year change of -4.4%. Revenues are expected to be $34.73 million, down 1.1% from the year-ago quarter.

FFO and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in FFO per share estimate revisions are strongly correlated with near-term stock price movements.

For Global Medical REIT, the consensus FFO per share estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in FFO per share estimate revisions. So, make sure to keep an eye on GMRE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Global Medical REIT belongs to the Zacks REIT and Equity Trust - Other industry. Another stock from the same industry, Alexander & Baldwin Holdings, Inc. (ALEX - Free Report) , closed the last trading session 1.9% higher at $16.49. Over the past month, ALEX has returned -11.6%.

For Alexander & Baldwin Holdings, the consensus FFO per share estimate for the upcoming report has changed +1.2% over the past month to $0.28. This represents a change of -20% from what the company reported a year ago. Alexander & Baldwin Holdings currently has a Zacks Rank of #2 (Buy).


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