Equities analysts forecast that Global Medical REIT Inc (NYSE:GMRE) will announce $14.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Global Medical REIT’s earnings, with the lowest sales estimate coming in at $13.86 million and the highest estimate coming in at $15.38 million. Global Medical REIT reported sales of $8.39 million during the same quarter last year, which indicates a positive year over year growth rate of 72.1%. The business is expected to announce its next earnings report on Thursday, November 8th.
On average, analysts expect that Global Medical REIT will report full year sales of $54.73 million for the current financial year, with estimates ranging from $52.76 million to $57.66 million. For the next financial year, analysts anticipate that the business will report sales of $69.52 million, with estimates ranging from $59.23 million to $89.09 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Global Medical REIT had a return on equity of 1.91% and a net margin of 8.00%. The firm had revenue of $13.25 million for the quarter, compared to the consensus estimate of $12.86 million.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Wednesday, July 25th. Boenning Scattergood reissued a “neutral” rating on shares of Global Medical REIT in a research note on Friday, June 29th. TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Friday, June 29th. Finally, B. Riley set a $11.00 target price on shares of Global Medical REIT and gave the stock a “buy” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $10.25.
NYSE GMRE traded down $0.14 during mid-day trading on Friday, reaching $8.91. 104,400 shares of the stock were exchanged, compared to its average volume of 130,578. Global Medical REIT has a one year low of $6.34 and a one year high of $10.05. The company has a market capitalization of $197.05 million, a PE ratio of 16.87, a P/E/G ratio of 1.23 and a beta of 0.54. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 1.63.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Thursday, September 20th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.98%. The ex-dividend date of this dividend is Wednesday, September 19th. Global Medical REIT’s dividend payout ratio is presently 148.15%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GMRE. State of New Jersey Common Pension Fund D grew its holdings in Global Medical REIT by 27.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 428,000 shares of the company’s stock worth $3,792,000 after purchasing an additional 93,000 shares during the period. RMR Advisors LLC grew its holdings in Global Medical REIT by 8.7% in the second quarter. RMR Advisors LLC now owns 437,967 shares of the company’s stock worth $3,880,000 after purchasing an additional 35,126 shares during the period. A.R.T. Advisors LLC grew its holdings in Global Medical REIT by 126.4% in the first quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock worth $195,000 after purchasing an additional 15,703 shares during the period. BlackRock Inc. grew its holdings in Global Medical REIT by 4.3% in the first quarter. BlackRock Inc. now owns 867,332 shares of the company’s stock worth $6,027,000 after purchasing an additional 35,430 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Global Medical REIT by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 57,936 shares of the company’s stock worth $403,000 after purchasing an additional 25,321 shares during the period. 41.99% of the stock is owned by institutional investors and hedge funds.
Global Medical REIT Company Profile
Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.
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