Global Medical REIT Inc (NYSE:GMRE) – DA Davidson lowered their FY2019 earnings per share estimates for Global Medical REIT in a research note issued on Friday, August 9th. DA Davidson analyst B. Oxford now expects that the company will earn $0.77 per share for the year, down from their previous estimate of $0.79.
Global Medical REIT (NYSE:GMRE) last posted its earnings results on Wednesday, August 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.16). Global Medical REIT had a return on equity of 6.25% and a net margin of 24.11%. The firm had revenue of $16.88 million during the quarter, compared to the consensus estimate of $16.74 million.
A number of other brokerages also recently weighed in on GMRE. ValuEngine downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Boenning Scattergood reissued a “buy” rating and issued a $11.00 price target on shares of Global Medical REIT in a report on Friday, May 10th. Zacks Investment Research raised shares of Global Medical REIT from a “strong sell” rating to a “hold” rating in a report on Thursday, July 11th. Finally, TheStreet downgraded shares of Global Medical REIT from a “b” rating to a “c+” rating in a report on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $10.67.
NYSE GMRE opened at $10.69 on Monday. Global Medical REIT has a 1 year low of $8.15 and a 1 year high of $11.51. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.08 and a current ratio of 0.08. The company has a market cap of $357.52 million, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 1.54 and a beta of 0.41. The business has a fifty day moving average price of $10.49.
Institutional investors have recently bought and sold shares of the company. Financial Advantage Inc. bought a new stake in shares of Global Medical REIT during the 1st quarter valued at $31,000. Daiwa Securities Group Inc. grew its holdings in Global Medical REIT by 100.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $37,000 after buying an additional 1,900 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Global Medical REIT by 639.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,782 shares of the company’s stock valued at $47,000 after buying an additional 4,135 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Global Medical REIT by 64.1% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 5,746 shares of the company’s stock valued at $60,000 after buying an additional 2,245 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Global Medical REIT by 19.9% during the first quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock valued at $72,000 after buying an additional 1,229 shares during the period. 53.63% of the stock is owned by hedge funds and other institutional investors.
About Global Medical REIT
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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