Global Medical REIT Inc Expected to Post FY2017 Earnings of $0.31 Per Share (GMRE)
Global Medical REIT Inc (NASDAQ:GMRE) – Investment analysts at DA Davidson cut their FY2017 EPS estimates for Global Medical REIT in a report issued on Thursday. DA Davidson analyst B. Oxford now forecasts that the company will post earnings per share of $0.31 for the year, down from their prior estimate of $0.32. DA Davidson currently has a “Neutral” rating and a $10.00 target price on the stock. DA Davidson also issued estimates for Global Medical REIT’s Q1 2018 earnings at $0.15 EPS and FY2018 earnings at $0.71 EPS.
Global Medical REIT (NASDAQ:GMRE) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.17). The business had revenue of $7.42 million for the quarter, compared to analysts’ expectations of $6.16 million. Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%.
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Several other equities analysts have also recently issued reports on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Global Medical REIT in a research report on Friday, September 1st. Zacks Investment Research cut Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a research report on Monday, July 10th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Global Medical REIT in a research report on Tuesday, July 11th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.50.
Shares of Global Medical REIT (NASDAQ GMRE) opened at 9.37 on Friday. The company’s 50 day moving average price is $9.34 and its 200-day moving average price is $8.86. Global Medical REIT has a 12 month low of $6.73 and a 12 month high of $10.64.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Investors of record on Tuesday, September 26th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.80 annualized dividend and a yield of 8.54%.
In other Global Medical REIT news, Chairman Jeffrey Busch acquired 11,100 shares of the stock in a transaction that occurred on Friday, June 30th. The shares were acquired at an average cost of $9.00 per share, with a total value of $99,900.00. Following the transaction, the chairman now owns 20,110 shares of the company’s stock, valued at approximately $180,990. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
A number of institutional investors and hedge funds have recently made changes to their positions in GMRE. UBS Group AG raised its stake in Global Medical REIT by 14.2% during the 1st 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. Spirit of America Management Corp NY raised its stake in Global Medical REIT by 50.0% during the 2nd quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock valued at $134,000 after buying an additional 5,000 shares during the last quarter. Citadel Advisors LLC purchased a new stake in Global Medical REIT during the 1st quarter valued at $137,000. Wedbush Securities Inc. raised its stake in Global Medical REIT by 5.8% during the 2nd quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock valued at $137,000 after buying an additional 834 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Global Medical REIT by 47.6% during the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock valued at $158,000 after buying an additional 5,710 shares during the last quarter.
Global Medical REIT Company Profile
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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