Equities analysts expect Global Medical REIT Inc (NYSE:GMRE) to announce earnings of $0.23 per share for the current quarter, according to Zacks. Three analysts have made estimates for Global Medical REIT’s earnings, with the highest EPS estimate coming in at $0.25 and the lowest estimate coming in at $0.22. Global Medical REIT posted earnings of $0.17 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 35.3%. The business is scheduled to report its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that Global Medical REIT will report full year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.78 to $0.89. For the next fiscal year, analysts expect that the firm will post earnings of $0.93 per share, with EPS estimates ranging from $0.86 to $1.00. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last issued its earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) 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 company had revenue of $13.25 million during the quarter, compared to analyst estimates of $12.86 million.
A number of analysts have issued reports on the company. Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Thursday, August 9th. Boenning Scattergood reaffirmed a “hold” rating on shares of Global Medical REIT in a research note on Thursday, August 9th. B. Riley set a $11.00 target price on Global Medical REIT and gave the stock a “buy” rating in a research note on Friday, August 10th. Finally, TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a research note on Friday, June 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Global Medical REIT has an average rating of “Buy” and an average target price of $10.30.
Shares of GMRE opened at $9.40 on Thursday. Global Medical REIT has a 52-week low of $6.34 and a 52-week high of $9.83. The firm has a market capitalization of $196.84 million, a price-to-earnings ratio of 17.41, a P/E/G ratio of 1.22 and a beta of 0.35. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14.
Large investors have recently modified their holdings of the stock. Citadel Advisors LLC acquired a new stake in shares of Global Medical REIT during the 2nd quarter worth about $194,000. Teachers Insurance & Annuity Association of America increased its position in shares of Global Medical REIT by 53.3% during the 1st quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock worth $153,000 after purchasing an additional 7,627 shares during the last quarter. A.R.T. Advisors LLC increased its position in shares of Global Medical REIT by 126.4% during the 1st 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 last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Global Medical REIT during the 1st quarter worth about $224,000. Finally, Citigroup Inc. increased its position in shares of Global Medical REIT by 511.1% during the 1st quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock worth $242,000 after purchasing an additional 29,127 shares during the last quarter. 38.30% of the stock is owned by hedge funds and other institutional investors.
About Global Medical REIT
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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