Global Medical REIT Inc (NYSE:GMRE) – Stock analysts at DA Davidson dropped their Q4 2018 EPS estimates for shares of Global Medical REIT in a note issued to investors on Tuesday, November 6th. DA Davidson analyst B. Oxford now expects that the company will post earnings of $0.20 per share for the quarter, down from their previous estimate of $0.24. DA Davidson also issued estimates for Global Medical REIT’s Q2 2019 earnings at $0.25 EPS, Q1 2020 earnings at $0.24 EPS and Q2 2020 earnings at $0.24 EPS.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Monday, November 5th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.22). The company had revenue of $14.00 million during the quarter, compared to analysts’ expectations of $14.34 million. Global Medical REIT had a return on equity of 2.65% and a net margin of 9.87%.
Shares of GMRE opened at $9.47 on Thursday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14. The stock has a market capitalization of $201.16 million, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.26 and a beta of 0.51. Global Medical REIT has a 52 week low of $6.34 and a 52 week high of $10.05.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Chicago Equity Partners LLC bought a new position in shares of Global Medical REIT in the third quarter worth about $565,000. Wedge Capital Management L L P NC bought a new position in shares of Global Medical REIT in the third quarter worth about $1,158,000. State of New Jersey Common Pension Fund D boosted its stake in shares of Global Medical REIT by 2.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 438,000 shares of the company’s stock worth $4,126,000 after acquiring an additional 10,000 shares during the period. Northern Trust Corp boosted its stake in shares of Global Medical REIT by 16.0% in the second quarter. Northern Trust Corp now owns 224,496 shares of the company’s stock worth $1,989,000 after acquiring an additional 30,934 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Global Medical REIT by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 184,553 shares of the company’s stock worth $1,635,000 after acquiring an additional 7,143 shares during the period. 42.01% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 8.45%. The ex-dividend date of this dividend was Wednesday, September 19th. Global Medical REIT’s payout ratio is 148.15%.
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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