Global Medical REIT Inc (GMRE) Expected to Announce Earnings of $0.20 Per Share

Equities analysts expect that Global Medical REIT Inc (NYSE:GMRE) will report earnings of $0.20 per share for the current quarter, according to Zacks. Five analysts have issued estimates for Global Medical REIT’s earnings. The lowest EPS estimate is $0.19 and the highest is $0.21. Global Medical REIT posted earnings per share of $0.18 during the same quarter last year, which would indicate a positive year over year growth rate of 11.1%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, May 8th.

On average, analysts expect that Global Medical REIT will report full-year earnings of $0.83 per share for the current financial year, with EPS estimates ranging from $0.77 to $0.90. For the next financial year, analysts expect that the company will report earnings of $0.91 per share, with EPS estimates ranging from $0.81 to $1.12. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.10. Global Medical REIT had a return on equity of 6.29% and a net margin of 22.62%. The company had revenue of $14.38 million for the quarter, compared to the consensus estimate of $14.46 million.

Several research firms recently weighed in on GMRE. Stifel Nicolaus began coverage on Global Medical REIT in a research note on Monday, April 15th. They set a “buy” rating and a $11.00 target price for the company. Zacks Investment Research cut 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 target on shares of Global Medical REIT and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, Boenning Scattergood reiterated a “buy” rating on shares of Global Medical REIT in a report on Thursday, March 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Global Medical REIT presently has a consensus rating of “Buy” and a consensus price target of $10.67.

Shares of GMRE traded down $0.11 during mid-day trading on Wednesday, hitting $10.07. 273,957 shares of the company’s stock were exchanged, compared to its average volume of 323,427. The stock has a market capitalization of $345.77 million, a PE ratio of 12.91, a P/E/G ratio of 1.39 and a beta of 0.61. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.25. Global Medical REIT has a 52 week low of $8.08 and a 52 week high of $11.02.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 7.94%. Global Medical REIT’s dividend payout ratio is currently 102.56%.

In other Global Medical REIT news, Director Roscoe M. Moore, Jr. sold 5,945 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.75, for a total value of $57,963.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 11.70% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of GMRE. Psagot Investment House Ltd. acquired a new position in Global Medical REIT during the first quarter valued at approximately $6,085,000. State of New Jersey Common Pension Fund D boosted its holdings in shares of Global Medical REIT by 34.2% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 588,000 shares of the company’s stock valued at $5,227,000 after buying an additional 150,000 shares in the last quarter. LSV Asset Management bought a new stake in shares of Global Medical REIT in the 4th quarter valued at about $1,283,000. RMR Advisors LLC boosted its stake in Global Medical REIT by 13.1% in the 1st quarter. RMR Advisors LLC now owns 495,467 shares of the company’s stock worth $4,865,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Global Medical REIT by 234.8% in the 4th quarter. Rhumbline Advisers now owns 75,223 shares of the company’s stock worth $669,000 after purchasing an additional 52,755 shares in the last quarter. Institutional investors and hedge funds own 35.28% of the company’s stock.

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.

See Also: How to Invest in the Dividend Aristocrat Index

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

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

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.