Analysts Anticipate Global Medical REIT Inc (GMRE) to Announce $0.13 Earnings Per Share

Equities research analysts forecast that Global Medical REIT Inc (NYSE:GMRE) will post $0.13 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Global Medical REIT’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.16. Global Medical REIT posted earnings of $0.06 per share in the same quarter last year, which indicates a positive year over year growth rate of 116.7%. The firm is scheduled to report its next quarterly earnings report on Monday, March 26th.

On average, analysts expect that Global Medical REIT will report full-year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.27 to $0.35. For the next year, analysts anticipate that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.55 to $0.83. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that cover Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Thursday, November 9th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.10). Global Medical REIT had a negative return on equity of 2.86% and a negative net margin of 19.98%.

GMRE has been the topic of a number of research analyst reports. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Friday, December 22nd. B. Riley restated a “buy” rating and set a $10.50 price target on shares of Global Medical REIT in a research note on Friday, November 10th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $10.50.

Shares of Global Medical REIT (NYSE:GMRE) opened at $7.87 on Monday. Global Medical REIT has a 52 week low of $7.72 and a 52 week high of $10.25. The firm has a market capitalization of $170.23, a PE ratio of -39.35, a PEG ratio of 1.28 and a beta of -48.24. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th were given a $0.20 dividend. The ex-dividend date of this dividend was Friday, December 22nd. This represents a $0.80 dividend on an annualized basis and a yield of 10.17%. Global Medical REIT’s dividend payout ratio is currently -400.00%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stifel Financial Corp acquired a new stake in shares of Global Medical REIT in the 3rd quarter worth $1,007,000. Goldman Sachs Group Inc. acquired a new position in Global Medical REIT during the second quarter worth approximately $339,000. Asset Management One Co. Ltd. increased its position in Global Medical REIT by 36,351.0% during the third quarter. Asset Management One Co. Ltd. now owns 36,451 shares of the company’s stock worth $333,000 after buying an additional 36,351 shares during the period. Janney Montgomery Scott LLC increased its position in Global Medical REIT by 37.8% during the third quarter. Janney Montgomery Scott LLC now owns 116,248 shares of the company’s stock worth $1,044,000 after buying an additional 31,900 shares during the period. Finally, D.A. Davidson & CO. increased its position in Global Medical REIT by 36.0% during the third quarter. D.A. Davidson & CO. now owns 104,430 shares of the company’s stock worth $937,000 after buying an additional 27,667 shares during the period. Hedge funds and other institutional investors own 41.07% of the company’s stock.

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Global Medical REIT Company Profile

Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.

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