Brokerages expect Global Medical REIT Inc (NYSE:GMRE) to announce sales of $16.74 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Global Medical REIT’s earnings, with the highest sales estimate coming in at $17.15 million and the lowest estimate coming in at $15.93 million. Global Medical REIT reported sales of $13.25 million during the same quarter last year, which indicates a positive year over year growth rate of 26.3%. The business is scheduled to announce its next quarterly earnings results on Tuesday, August 6th.
According to Zacks, analysts expect that Global Medical REIT will report full-year sales of $67.86 million for the current financial year, with estimates ranging from $63.21 million to $71.18 million. For the next financial year, analysts expect that the firm will report sales of $81.19 million, with estimates ranging from $65.18 million to $94.27 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its earnings results on Wednesday, May 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.18). The company had revenue of $15.20 million for the quarter, compared to analysts’ expectations of $15.32 million. Global Medical REIT had a net margin of 21.38% and a return on equity of 5.52%.
A number of brokerages have recently commented on GMRE. B. Riley set a $11.00 price objective on Global Medical REIT and gave the company a “buy” rating in a report on Friday, March 8th. Boenning Scattergood reissued a “buy” rating and issued a $11.00 price objective on shares of Global Medical REIT in a research note on Friday, May 10th. Zacks Investment Research downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Tuesday, June 18th. Stifel Nicolaus initiated coverage on Global Medical REIT in a research report on Monday, April 15th. They issued a “buy” rating and a $11.00 target price on the stock. Finally, TheStreet raised Global Medical REIT from a “c+” rating to a “b” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $10.67.
GMRE stock traded down $0.27 during mid-day trading on Tuesday, hitting $10.73. The stock had a trading volume of 356,400 shares, compared to its average volume of 314,895. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.76. Global Medical REIT has a 1-year low of $8.10 and a 1-year high of $11.51. The business’s fifty day moving average price is $10.79. The stock has a market cap of $379.03 million, a PE ratio of 13.76, a price-to-earnings-growth ratio of 1.63 and a beta of 0.46.
The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 26th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 7.46%. The ex-dividend date is Tuesday, June 25th. Global Medical REIT’s payout ratio is currently 102.56%.
Several hedge funds and other institutional investors have recently modified their holdings of GMRE. Financial Advantage Inc. acquired a new position in shares of Global Medical REIT during the 1st quarter valued at about $31,000. Daiwa Securities Group Inc. increased its holdings in shares of 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 acquiring an additional 1,900 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of 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 acquiring an additional 4,135 shares during the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Global Medical REIT by 19.9% during the 1st quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock valued at $72,000 after acquiring an additional 1,229 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in shares of Global Medical REIT during the 1st quarter valued at about $85,000. 51.96% of the stock is currently owned by institutional investors and hedge funds.
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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