Global Medical REIT Inc (NYSE:GMRE) – Boenning Scattergood boosted their FY2019 EPS estimates for shares of Global Medical REIT in a note issued to investors on Wednesday, March 20th. Boenning Scattergood analyst M. Ross now expects that the company will post earnings of $0.84 per share for the year, up from their prior forecast of $0.81. Boenning Scattergood has a “Buy” rating on the stock.
A number of other brokerages have also weighed in on GMRE. Zacks Investment Research lowered shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Tuesday, March 12th. B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the company a “buy” rating in a report on Friday, March 8th. Finally, Janney Montgomery Scott lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 price target for the company. in a report on Wednesday, December 19th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Global Medical REIT has an average rating of “Buy” and a consensus target price of $10.17.
Shares of Global Medical REIT stock opened at $9.63 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.11 and a quick ratio of 0.11. The company has a market capitalization of $253.49 million, a P/E ratio of 12.35, a P/E/G ratio of 1.30 and a beta of 0.62. Global Medical REIT has a fifty-two week low of $6.34 and a fifty-two week high of $11.02.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. The business had revenue of $14.38 million during the quarter, compared to analyst estimates of $14.46 million. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Global Medical REIT by 3.9% during the 4th quarter. BlackRock Inc. now owns 1,059,753 shares of the company’s stock worth $9,422,000 after acquiring an additional 39,560 shares during the period. Vanguard Group Inc grew its holdings in Global Medical REIT by 0.9% during the 3rd quarter. Vanguard Group Inc now owns 899,741 shares of the company’s stock worth $8,475,000 after acquiring an additional 7,614 shares during the period. Vanguard Group Inc. grew its holdings in Global Medical REIT by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 899,741 shares of the company’s stock worth $8,475,000 after acquiring an additional 7,614 shares during the period. State of New Jersey Common Pension Fund D grew its holdings in Global Medical REIT by 34.2% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 588,000 shares of the company’s stock worth $5,227,000 after acquiring an additional 150,000 shares during the period. Finally, Man Group plc grew its holdings in Global Medical REIT by 17.0% during the 3rd quarter. Man Group plc now owns 296,024 shares of the company’s stock worth $2,789,000 after acquiring an additional 43,100 shares during the period. 42.13% of the stock is owned by hedge funds and other institutional investors.
In other Global Medical REIT news, Director Roscoe M. Moore, Jr. sold 5,945 shares of Global Medical REIT stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.75, for a total transaction of $57,963.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by insiders.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 26th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 8.31%. The ex-dividend date is Monday, March 25th. Global Medical REIT’s dividend payout ratio is presently 102.56%.
About Global Medical REIT
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.
See Also: The basics of gap trading strategies
Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter.