Global Medical REIT (GMRE) Expected to Announce Quarterly Sales of $13.11 Million

Brokerages forecast that Global Medical REIT (NYSE:GMRE) will announce $13.11 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Global Medical REIT’s earnings. The highest sales estimate is $13.45 million and the lowest is $12.77 million. Global Medical REIT reported sales of $7.42 million during the same quarter last year, which indicates a positive year-over-year growth rate of 76.7%. The business is scheduled to issue its next earnings report on Thursday, August 9th.

On average, analysts expect that Global Medical REIT will report full-year sales of $53.65 million for the current fiscal year, with estimates ranging from $52.72 million to $54.58 million. For the next financial year, analysts expect that the company will report sales of $65.46 million per share, with estimates ranging from $56.50 million to $74.43 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Global Medical REIT had a net margin of 7.75% and a return on equity of 1.61%. The company had revenue of $11.56 million for the quarter, compared to analyst estimates of $11.50 million.

A number of equities research analysts recently weighed in on the stock. B. Riley lowered their target price on shares of Global Medical REIT from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Thursday, May 10th. Zacks Investment Research lowered shares of Global Medical REIT from a “buy” rating to a “sell” rating in a report on Friday, May 11th. Cantor Fitzgerald assumed coverage on shares of Global Medical REIT in a report on Wednesday, March 7th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, DA Davidson upgraded shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $10.05.

Several institutional investors and hedge funds have recently bought and sold shares of GMRE. Teachers Insurance & Annuity Association of America grew its position in Global Medical REIT by 53.3% in the 1st quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock worth $153,000 after purchasing an additional 7,627 shares in the last quarter. SG Americas Securities LLC grew its position in Global Medical REIT by 67.2% in the 4th quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after purchasing an additional 8,624 shares in the last quarter. A.R.T. Advisors LLC grew its position in Global Medical REIT by 126.4% in the 1st quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock worth $195,000 after purchasing an additional 15,703 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Global Medical REIT in the 1st quarter worth about $224,000. Finally, Citigroup Inc. grew its position in Global Medical REIT by 511.1% in the 1st quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock worth $242,000 after purchasing an additional 29,127 shares in the last quarter. Institutional investors own 38.80% of the company’s stock.

Shares of NYSE GMRE traded up $0.11 during trading on Friday, hitting $9.02. 56,100 shares of the company traded hands, compared to its average volume of 137,989. Global Medical REIT has a fifty-two week low of $6.34 and a fifty-two week high of $10.25. The firm has a market capitalization of $191.86 million, a P/E ratio of 16.63, a P/E/G ratio of 1.19 and a beta of 0.50. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt-to-equity ratio of 1.31.

About Global Medical REIT

Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.

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

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