Brokerages expect that Global Medical REIT Inc (NYSE:GMRE) will announce earnings of $0.23 per share for the current quarter, Zacks reports. 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 reported earnings of $0.17 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 35.3%. The business is expected to report its next quarterly earnings results 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 year, with EPS estimates ranging from $0.78 to $0.89. For the next year, analysts forecast that the business will post earnings of $0.93 per share, with EPS estimates ranging from $0.86 to $1.00. Zacks’ EPS averages are an average based on a survey of research analysts that cover Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The firm had revenue of $13.25 million during the quarter, compared to the consensus estimate of $12.86 million. Global Medical REIT had a return on equity of 1.91% and a net margin of 8.00%.
GMRE has been the topic of several recent research reports. B. Riley cut their price target on Global Medical REIT from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 10th. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Thursday, August 9th. TheStreet upgraded Global Medical REIT from a “d” rating to a “c-” rating in a report on Friday, June 29th. Finally, Boenning Scattergood restated a “hold” rating on shares of Global Medical REIT in a report on Thursday, August 9th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $10.30.
Hedge funds have recently bought and sold shares of the company. Teachers Insurance & Annuity Association of America increased its position in shares of Global Medical REIT by 53.3% during the first quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock valued at $153,000 after acquiring an additional 7,627 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Global Medical REIT during the second quarter valued at approximately $194,000. A.R.T. Advisors LLC increased its position 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 buying an additional 15,703 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Global Medical REIT in the first quarter worth $224,000. Finally, Citigroup Inc. increased its position in Global Medical REIT by 511.1% in the first quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock worth $242,000 after buying an additional 29,127 shares during the last quarter. Institutional investors own 41.98% of the company’s stock.
NYSE:GMRE traded down $0.14 on Friday, hitting $9.43. The stock had a trading volume of 3,582 shares, compared to its average volume of 111,310. The firm has a market cap of $208.09 million, a P/E ratio of 17.48, a PEG ratio of 1.29 and a beta of 0.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.14 and a current ratio of 0.14. Global Medical REIT has a 52 week low of $6.34 and a 52 week high of $9.83.
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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