Global Medical REIT Inc (GMRE) to Release Quarterly Earnings on Thursday
Global Medical REIT Inc (NASDAQ:GMRE) is set to issue its quarterly earnings data before the market opens on Thursday, November 9th. Analysts expect the company to announce earnings of $0.12 per share for the quarter.
Global Medical REIT (NASDAQ:GMRE) last issued its earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.17). The firm had revenue of $7.42 million during the quarter, compared to analysts’ expectations of $6.16 million. Global Medical REIT had a negative return on equity of 1.53% and a negative net margin of 8.39%. On average, analysts expect Global Medical REIT to post $-0.16 EPS for the current fiscal year and $0.06 EPS for the next fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 9th. Investors of record on Tuesday, September 26th were paid a dividend of $0.20 per share. The ex-dividend date was Monday, September 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.46%.
A hedge fund recently raised its stake in Global Medical REIT stock. State Street Corp raised its stake in Global Medical REIT Inc (NASDAQ:GMRE) by 9.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,183 shares of the company’s stock after acquiring an additional 20,804 shares during the period. State Street Corp’s holdings in Global Medical REIT were worth $2,094,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
GMRE has been the subject of several research analyst reports. FBR & Co restated an “outperform” rating and issued a $10.00 price objective on shares of Global Medical REIT in a research note on Tuesday, July 11th. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research note on Wednesday, July 12th. TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. DA Davidson downgraded shares of Global Medical REIT from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $11.00 to $10.00 in a research note on Tuesday, August 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $12.00 price objective on shares of Global Medical REIT in a research note on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Global Medical REIT presently has a consensus rating of “Buy” and a consensus target price of $10.63.
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About Global Medical REIT
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