Analysts Expect Global Medical REIT Inc (GMRE) Will Announce Earnings of $0.12 Per Share
Brokerages forecast that Global Medical REIT Inc (NASDAQ:GMRE) will post earnings per share of $0.12 for the current quarter, according to Zacks. Two analysts have issued estimates for Global Medical REIT’s earnings. The highest EPS estimate is $0.14 and the lowest is $0.10. The company is expected to report its next earnings report on Thursday, August 10th.
According to Zacks, analysts expect that Global Medical REIT will report full year earnings of $0.44 per share for the current financial year, with EPS estimates ranging from $0.36 to $0.53. For the next fiscal year, analysts expect that the firm will post earnings of $0.72 per share, with EPS estimates ranging from $0.62 to $0.81. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that follow Global Medical REIT.
Global Medical REIT (NASDAQ:GMRE) last posted its quarterly earnings results on Thursday, May 11th. The company reported ($0.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.24. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. The company had revenue of $4.66 million during the quarter, compared to analyst estimates of $5.32 million.
A number of equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of Global Medical REIT from a “sell” rating to a “buy” rating and set a $11.00 price objective on the stock in a report on Wednesday, May 10th. Janney Montgomery Scott assumed coverage on shares of Global Medical REIT in a report on Thursday, February 23rd. They set a “buy” rating on the stock. Finally, Compass Point upgraded shares of Global Medical REIT from a “neutral” rating to a “buy” rating in a report on Tuesday, March 28th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Global Medical REIT presently has an average rating of “Buy” and a consensus target price of $11.54.
A number of large investors have recently modified their holdings of the stock. UBS Group AG raised its stake in shares of Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock valued at $108,000 after buying an additional 1,477 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Global Medical REIT by 6.2% in the first quarter. Wedbush Securities Inc. now owns 14,500 shares of the company’s stock valued at $132,000 after buying an additional 849 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Global Medical REIT during the first quarter valued at about $137,000. GRT Capital Partners L.L.C. raised its stake in shares of Global Medical REIT by 7.5% in the fourth quarter. GRT Capital Partners L.L.C. now owns 17,576 shares of the company’s stock valued at $157,000 after buying an additional 1,220 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in shares of Global Medical REIT during the first quarter valued at about $164,000.
Global Medical REIT (NASDAQ GMRE) traded down 0.53% during trading on Monday, hitting $9.45. 139,194 shares of the stock were exchanged. The stock has a 50 day moving average price of $9.49 and a 200-day moving average price of $8.87. Global Medical REIT has a 12-month low of $6.73 and a 12-month high of $11.38.
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About Global Medical REIT
Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.
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