Brokerages Expect Global Medical REIT Inc (GMRE) Will Announce Earnings of $0.12 Per Share
Brokerages expect that Global Medical REIT Inc (NASDAQ:GMRE) will report earnings of $0.12 per share for the current quarter, according to Zacks. Two analysts have provided estimates for Global Medical REIT’s earnings, with the lowest EPS estimate coming in at $0.11 and the highest estimate coming in at $0.13. Global Medical REIT reported earnings per share of ($0.11) during the same quarter last year, which would suggest a positive year over year growth rate of 209.1%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, November 9th.
According to Zacks, analysts expect that Global Medical REIT will report full-year earnings of $0.32 per share for the current fiscal year, with EPS estimates ranging from $0.27 to $0.37. For the next year, analysts expect that the business will post earnings of $0.69 per share, with EPS estimates ranging from $0.50 to $0.79. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Global Medical REIT.
Global Medical REIT (NASDAQ:GMRE) last posted its quarterly earnings data 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 company had revenue of $7.42 million during the quarter, compared to analyst estimates of $6.16 million. Global Medical REIT had a negative return on equity of 1.53% and a negative net margin of 8.39%.
Several brokerages recently weighed in on GMRE. FBR & Co restated a “buy” rating and set a $10.50 target price (up from $10.00) on shares of Global Medical REIT in a report on Monday, September 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $12.00 price objective on shares of Global Medical REIT in a report on Friday, September 1st. DA Davidson cut Global Medical REIT from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $11.00 to $10.00 in a report on Tuesday, August 22nd. Zacks Investment Research cut Global Medical REIT from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, TheStreet upgraded Global Medical REIT from a “d” rating to a “c-” rating in a report on Monday, July 10th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Global Medical REIT currently has an average rating of “Buy” and an average target price of $10.63.
Global Medical REIT (NASDAQ GMRE) opened at 9.22 on Friday. The company has a 50 day moving average price of $9.08 and a 200-day moving average price of $9.08. Global Medical REIT has a 1-year low of $6.73 and a 1-year high of $9.89.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 9th. Shareholders of record on Tuesday, September 26th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.68%. The ex-dividend date of this dividend was Monday, September 25th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. purchased a new stake in Global Medical REIT in the 2nd quarter worth approximately $185,000. State Street Corp lifted its holdings in Global Medical REIT by 9.7% in the 2nd quarter. State Street Corp now owns 234,183 shares of the company’s stock worth $2,094,000 after buying an additional 20,804 shares during the period. Goldman Sachs Group Inc. purchased a new stake in Global Medical REIT in the 2nd quarter worth approximately $339,000. Parametric Portfolio Associates LLC lifted its holdings in Global Medical REIT by 18.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,546 shares of the company’s stock worth $282,000 after buying an additional 5,017 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Global Medical REIT by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock worth $4,667,000 after buying an additional 4,044 shares during the period.
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