Global Medical REIT Inc to Post FY2018 Earnings of $0.78 Per Share, DA Davidson Forecasts (GMRE)

Global Medical REIT Inc (NYSE:GMRE) – Equities research analysts at DA Davidson reduced their FY2018 earnings per share (EPS) estimates for Global Medical REIT in a report issued on Tuesday, November 6th. DA Davidson analyst B. Oxford now forecasts that the company will earn $0.78 per share for the year, down from their previous forecast of $0.89. DA Davidson also issued estimates for Global Medical REIT’s Q4 2019 earnings at $0.24 EPS.

GMRE has been the topic of a number of other research reports. Boenning Scattergood upgraded Global Medical REIT from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Wednesday. Zacks Investment Research upgraded Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Thursday, August 9th. Robert W. Baird assumed coverage on Global Medical REIT in a research note on Thursday, October 11th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, B. Riley set a $11.00 price objective on Global Medical REIT and gave the company a “buy” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Global Medical REIT presently has an average rating of “Buy” and an average price target of $10.50.

Shares of NYSE:GMRE opened at $9.28 on Friday. Global Medical REIT has a 1 year low of $6.34 and a 1 year high of $10.05. The company has a market cap of $201.16 million, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51. 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 (NYSE:GMRE) last announced its earnings results on Monday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.22). Global Medical REIT had a net margin of 9.87% and a return on equity of 2.65%. The business had revenue of $14.00 million for the quarter, compared to analysts’ expectations of $14.34 million.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new position in Global Medical REIT in the 2nd quarter valued at $194,000. Martingale Asset Management L P acquired a new position in Global Medical REIT in the 3rd quarter valued at $285,000. Schwab Charles Investment Management Inc. raised its stake in Global Medical REIT by 32.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock valued at $334,000 after purchasing an additional 9,200 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Global Medical REIT by 77.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 57,936 shares of the company’s stock valued at $403,000 after purchasing an additional 25,321 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in Global Medical REIT in the 3rd quarter valued at $565,000. 42.01% of the stock is owned by hedge funds and other institutional investors.

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.

See Also: Fundamental Analysis

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

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