Global Medical REIT Inc (NYSE:GMRE) – Investment analysts at Boenning Scattergood upped their FY2019 earnings estimates for shares of Global Medical REIT in a research note issued on Wednesday, March 20th. Boenning Scattergood analyst M. Ross now anticipates that the company will post earnings of $0.84 per share for the year, up from their prior estimate of $0.81. Boenning Scattergood currently has a “Buy” rating on the stock.
Several other brokerages also recently commented on GMRE. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. B. Riley set a $11.00 price objective on shares of Global Medical REIT and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, Janney Montgomery Scott downgraded shares of Global Medical REIT from a “buy” rating to a “neutral” rating and set a $9.03 price objective for the company. in a research note on Wednesday, December 19th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Global Medical REIT presently has an average rating of “Buy” and an average price target of $10.17.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.21 by $0.10. The firm had revenue of $14.38 million during the quarter, compared to the consensus estimate of $14.46 million. Global Medical REIT had a net margin of 22.62% and a return on equity of 6.29%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. purchased a new stake in Global Medical REIT in the fourth quarter worth about $89,000. Bank of America Corp DE grew its holdings in Global Medical REIT by 113.3% in the fourth quarter. Bank of America Corp DE now owns 10,296 shares of the company’s stock worth $92,000 after purchasing an additional 5,470 shares during the period. Schnieders Capital Management LLC purchased a new stake in Global Medical REIT in the fourth quarter worth about $116,000. Squarepoint Ops LLC purchased a new stake in Global Medical REIT in the fourth quarter worth about $118,000. Finally, State Board of Administration of Florida Retirement System grew its holdings in Global Medical REIT by 10.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 15,526 shares of the company’s stock worth $138,000 after purchasing an additional 1,474 shares during the period. Institutional investors own 42.09% of the company’s stock.
In related news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.75, for a total transaction of $57,963.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 13.00% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 10th. Investors of record on Tuesday, March 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 8.38%. The ex-dividend date is Monday, March 25th. Global Medical REIT’s dividend payout ratio is currently 102.56%.
About Global Medical REIT
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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