Global Medical REIT Inc. (NYSE:GMRE) Expected to Post Earnings of $0.23 Per Share

Analysts expect Global Medical REIT Inc. (NYSE:GMRE) to post $0.23 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Global Medical REIT’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.24. Global Medical REIT also posted earnings of $0.23 per share during the same quarter last year. The business is scheduled to report its next earnings results after the market closes on Wednesday, November 3rd.

According to Zacks, analysts expect that Global Medical REIT will report full year earnings of $0.94 per share for the current year, with EPS estimates ranging from $0.90 to $0.96. For the next financial year, analysts anticipate that the business will report earnings of $1.06 per share, with EPS estimates ranging from $1.01 to $1.11. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Tuesday, August 3rd. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.18). Global Medical REIT had a net margin of 0.15% and a return on equity of 0.03%.

Several brokerages have issued reports on GMRE. Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, October 6th. KeyCorp began coverage on Global Medical REIT in a report on Monday, September 20th. They set an “overweight” rating and a $17.00 price target for the company. Finally, Colliers Securities began coverage on Global Medical REIT in a report on Friday, July 9th. They set a “buy” rating and a $18.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Global Medical REIT currently has an average rating of “Buy” and a consensus target price of $17.20.

Shares of NYSE:GMRE traded up $0.29 during midday trading on Thursday, hitting $16.77. The stock had a trading volume of 18,491 shares, compared to its average volume of 445,781. Global Medical REIT has a 12 month low of $12.11 and a 12 month high of $16.61. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $15.26 and its 200-day simple moving average is $14.91. The company has a market cap of $1.08 billion, a P/E ratio of -126.77, a PEG ratio of 2.15 and a beta of 0.72.

The company also recently announced a quarterly dividend, which was paid on Friday, October 8th. Stockholders of record on Friday, September 24th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, September 23rd. Global Medical REIT’s dividend payout ratio is currently 93.18%.

Institutional investors and hedge funds have recently bought and sold shares of the company. Evoke Wealth LLC acquired a new position in Global Medical REIT in the second quarter valued at about $28,000. PNC Financial Services Group Inc. acquired a new position in Global Medical REIT in the second quarter valued at about $59,000. Ameritas Investment Partners Inc. raised its stake in Global Medical REIT by 32.2% in the second quarter. Ameritas Investment Partners Inc. now owns 4,446 shares of the company’s stock valued at $66,000 after purchasing an additional 1,084 shares in the last quarter. Advisory Services Network LLC acquired a new position in Global Medical REIT in the second quarter valued at about $66,000. Finally, FORA Capital LLC acquired a new position in Global Medical REIT in the second quarter valued at about $100,000. 70.26% of the stock is owned by institutional investors.

About Global Medical REIT

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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

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