Analysts Expect Global Medical REIT Inc (GMRE) to Post $0.14 Earnings Per Share

Analysts expect Global Medical REIT Inc (NYSE:GMRE) to report earnings of $0.14 per share for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Global Medical REIT’s earnings, with the highest EPS estimate coming in at $0.16 and the lowest estimate coming in at $0.12. Global Medical REIT posted earnings per share of $0.06 in the same quarter last year, which indicates a positive year over year growth rate of 133.3%. The company is scheduled to issue its next earnings report on Monday, March 26th.

According to Zacks, analysts expect that Global Medical REIT will report full-year earnings of $0.34 per share for the current fiscal year, with EPS estimates ranging from $0.33 to $0.35. For the next fiscal year, analysts anticipate that the business will report earnings of $0.70 per share, with EPS estimates ranging from $0.55 to $0.83. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last released its earnings results on Thursday, November 9th. The company reported $0.02 EPS for the quarter, missing analysts’ consensus estimates 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%.

A number of research firms have commented on GMRE. Zacks Investment Research raised Global Medical REIT from a “hold” rating to a “buy” rating and set a $8.00 target price on the stock in a report on Thursday. TheStreet downgraded Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st. Finally, B. Riley reissued a “buy” rating and issued a $10.50 price target on shares of Global Medical REIT in a report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Global Medical REIT currently has a consensus rating of “Buy” and a consensus price target of $10.20.

Global Medical REIT (NYSE GMRE) opened at $7.23 on Thursday. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 0.72. Global Medical REIT has a 1-year low of $6.96 and a 1-year high of $10.25. The company has a market capitalization of $153.79, a P/E ratio of -26.78, a price-to-earnings-growth ratio of 1.13 and a beta of -0.19.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 26th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 11.07%. The ex-dividend date of this dividend was Friday, December 22nd. Global Medical REIT’s dividend payout ratio (DPR) is -296.30%.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 4,044 shares during the last quarter. RMR Advisors LLC lifted its holdings in shares of Global Medical REIT by 169.0% in the 4th quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after purchasing an additional 216,943 shares during the last quarter. State Street Corp lifted its holdings in shares of 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 purchasing an additional 20,804 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Global Medical REIT by 2.0% in the 2nd quarter. Northern Trust Corp now owns 147,978 shares of the company’s stock worth $1,323,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Global Medical REIT by 6.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 145,755 shares of the company’s stock worth $1,309,000 after purchasing an additional 8,274 shares during the last quarter. 42.00% of the stock is currently owned by institutional investors and hedge funds.

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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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