Analysts Anticipate Global Medical REIT Inc (GMRE) Will Post Quarterly Sales of $14.44 Million

Wall Street brokerages forecast that Global Medical REIT Inc (NYSE:GMRE) will announce $14.44 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Global Medical REIT’s earnings, with the lowest sales estimate coming in at $13.86 million and the highest estimate coming in at $15.38 million. Global Medical REIT posted sales of $8.39 million during the same quarter last year, which indicates a positive year-over-year growth rate of 72.1%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 8th.

On average, analysts expect that Global Medical REIT will report full year sales of $54.73 million for the current year, with estimates ranging from $52.76 million to $57.66 million. For the next year, analysts forecast that the business will post sales of $69.52 million, with estimates ranging from $59.23 million to $89.09 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). The business had revenue of $13.25 million during the quarter, compared to analyst estimates of $12.86 million. Global Medical REIT had a return on equity of 1.91% and a net margin of 8.00%.

Several equities analysts have recently issued reports on the stock. Robert W. Baird assumed coverage on shares of Global Medical REIT in a research note on Thursday. They issued an “outperform” rating and a $11.00 price objective on the stock. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, August 14th. B. Riley set a $11.00 price objective on shares of Global Medical REIT and gave the stock a “buy” rating in a research note on Friday, August 10th. Boenning Scattergood reaffirmed a “hold” rating on shares of Global Medical REIT in a research note on Thursday, August 9th. Finally, TheStreet raised shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Friday, June 29th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Global Medical REIT currently has a consensus rating of “Buy” and a consensus price target of $10.40.

Shares of GMRE traded down $0.09 during mid-day trading on Monday, hitting $8.85. The company’s stock had a trading volume of 130,533 shares, compared to its average volume of 129,509. The stock has a market capitalization of $203.76 million, a P/E ratio of 16.39, a P/E/G ratio of 1.27 and a beta of 0.54. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14. Global Medical REIT has a fifty-two week low of $6.34 and a fifty-two week high of $10.05.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Stockholders of record on Thursday, September 20th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 9.04%. The ex-dividend date of this dividend was Wednesday, September 19th. Global Medical REIT’s dividend payout ratio (DPR) is currently 148.15%.

Several institutional investors have recently added to or reduced their stakes in GMRE. Citadel Advisors LLC purchased a new position in shares of Global Medical REIT in the second quarter worth approximately $194,000. A.R.T. Advisors LLC increased its position in shares of 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 acquiring an additional 15,703 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Global Medical REIT in the first quarter worth approximately $224,000. Citigroup Inc. increased its position in shares of 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 acquiring an additional 29,127 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Global Medical REIT by 32.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock worth $334,000 after acquiring an additional 9,200 shares in the last quarter. 41.99% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Company Profile

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.

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Earnings History and Estimates for Global Medical REIT (NYSE:GMRE)

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