Equities research analysts expect Global Medical REIT Inc (NYSE:GMRE) to report earnings per share (EPS) of $0.23 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Global Medical REIT’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.21. Global Medical REIT reported earnings of $0.15 per share during the same quarter last year, which would indicate a positive year over year growth rate of 53.3%. The company is scheduled to report its next earnings results on Wednesday, March 6th.
According to Zacks, analysts expect that Global Medical REIT will report full-year earnings of $0.82 per share for the current fiscal year, with EPS estimates ranging from $0.78 to $0.89. For the next year, analysts anticipate that the firm will post earnings of $0.92 per share, with EPS estimates ranging from $0.86 to $1.00. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Monday, November 5th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.22). Global Medical REIT had a return on equity of 1.91% and a net margin of 8.00%. The company had revenue of $14.00 million for the quarter, compared to analyst estimates of $14.34 million.
GMRE has been the subject of a number of analyst reports. Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Wednesday, July 18th. B. Riley set a $11.00 price objective on Global Medical REIT and gave the stock a “buy” rating in a research note on Friday, August 10th. Boenning Scattergood reissued a “hold” rating on shares of Global Medical REIT in a research note on Thursday, August 9th. Finally, Robert W. Baird began coverage on Global Medical REIT in a research note on Thursday, October 11th. They issued an “outperform” rating and a $11.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Global Medical REIT has an average rating of “Buy” and a consensus target price of $10.40.
A number of large investors have recently bought and sold shares of GMRE. Millennium Management LLC grew its stake in Global Medical REIT by 370.7% in the first quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock valued at $1,593,000 after acquiring an additional 180,465 shares during the period. BlackRock Inc. grew its stake in Global Medical REIT by 16.5% in the second quarter. BlackRock Inc. now owns 1,010,733 shares of the company’s stock valued at $8,955,000 after acquiring an additional 143,401 shares during the period. Wedge Capital Management L L P NC acquired a new position in Global Medical REIT in the third quarter valued at about $1,158,000. State of New Jersey Common Pension Fund D grew its stake in Global Medical REIT by 27.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 428,000 shares of the company’s stock valued at $3,792,000 after acquiring an additional 93,000 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Global Medical REIT in the third quarter valued at about $565,000. 42.01% of the stock is owned by hedge funds and other institutional investors.
Shares of Global Medical REIT stock traded up $0.24 during trading on Tuesday, reaching $9.30. 33,589 shares of the company were exchanged, compared to its average volume of 123,511. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 1.63. Global Medical REIT has a twelve month low of $6.34 and a twelve month high of $10.05. The stock has a market cap of $196.84 million, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, September 19th. This represents a $0.80 dividend on an annualized basis and a yield of 8.60%. 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.
Read More: What is the Rule of 72?
Get a free copy of the Zacks research report on Global Medical REIT (GMRE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter.