Equities research analysts predict that Global Medical REIT Inc. (NYSE:GMRE – Get Rating) will announce sales of $30.64 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Global Medical REIT’s earnings. The lowest sales estimate is $29.88 million and the highest is $31.34 million. Global Medical REIT reported sales of $27.35 million during the same quarter last year, which indicates a positive year over year growth rate of 12%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Global Medical REIT will report full year sales of $125.57 million for the current financial year, with estimates ranging from $119.76 million to $132.84 million. For the next fiscal year, analysts anticipate that the business will report sales of $133.68 million, with estimates ranging from $120.21 million to $152.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Global Medical REIT.
Global Medical REIT (NYSE:GMRE – Get Rating) last announced its earnings results on Monday, February 28th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.17). Global Medical REIT had a net margin of 15.20% and a return on equity of 3.20%. During the same period in the previous year, the business posted $0.24 EPS.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded Global Medical REIT from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 8th. TheStreet lowered Global Medical REIT from a “b-” rating to a “c” rating in a report on Monday, April 4th. StockNews.com assumed coverage on Global Medical REIT in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, B. Riley decreased their price objective on Global Medical REIT from $20.00 to $18.00 in a report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $17.50.
Shares of NYSE:GMRE opened at $16.00 on Friday. Global Medical REIT has a 1 year low of $13.38 and a 1 year high of $18.51. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 84.21, a price-to-earnings-growth ratio of 2.04 and a beta of 0.88. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.19 and a quick ratio of 0.19. The business’s 50 day moving average price is $15.87 and its 200-day moving average price is $16.33.
The business also recently announced a quarterly dividend, which was paid on Friday, April 8th. Shareholders of record on Friday, March 25th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, March 24th. This is an increase from Global Medical REIT’s previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.25%. Global Medical REIT’s dividend payout ratio (DPR) is 442.13%.
In other Global Medical REIT news, CEO Jeffrey Busch acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was purchased at an average cost of $15.55 per share, with a total value of $31,100.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GMRE. Retirement Planning Co of New England Inc. acquired a new position in Global Medical REIT in the 4th quarter valued at about $26,000. Capital Analysts LLC acquired a new position in Global Medical REIT in the 3rd quarter valued at about $33,000. Lazard Asset Management LLC acquired a new position in Global Medical REIT in the 4th quarter valued at about $48,000. Penserra Capital Management LLC purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $80,000. Finally, Guggenheim Capital LLC purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $149,000. 70.85% of the stock is owned by institutional investors.
Global Medical REIT Company Profile (Get Rating)
Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.
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