Zacks: Brokerages Anticipate Global Medical REIT Inc (GMRE) to Post $0.14 EPS
Wall Street brokerages predict that Global Medical REIT Inc (NASDAQ:GMRE) will announce earnings of $0.14 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Global Medical REIT’s earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.18. The company is expected to report its next earnings report on Thursday, August 10th.
According to Zacks, analysts expect that Global Medical REIT will report full-year earnings of $0.52 per share for the current year, with EPS estimates ranging from $0.36 to $0.67. For the next financial year, analysts anticipate that the firm will post earnings of $0.76 per share, with EPS estimates ranging from $0.71 to $0.81. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Global Medical REIT.
Global Medical REIT (NASDAQ:GMRE) last announced its earnings results on Thursday, May 11th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.10 by $0.24. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. The business had revenue of $4.66 million for the quarter, compared to analyst estimates of $5.32 million.
GMRE has been the subject of several research reports. Zacks Investment Research lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Monday, March 20th. Compass Point raised shares of Global Medical REIT from a “neutral” rating to a “buy” rating in a report on Tuesday, March 28th. Three equities 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 presently has a consensus rating of “Buy” and a consensus target price of $11.54.
In other news, Chairman Jeffrey Busch bought 11,100 shares of Global Medical REIT stock in a transaction on Friday, June 30th. The stock was purchased at an average cost of $9.00 per share, with a total value of $99,900.00. Following the purchase, the chairman now directly owns 20,110 shares of the company’s stock, valued at approximately $180,990. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Neuberger Berman Group LLC purchased a new position in Global Medical REIT during the first quarter worth about $601,000. Rational Advisors LLC purchased a new position in Global Medical REIT during the first quarter worth about $2,425,000. Parametric Portfolio Associates LLC raised its position in Global Medical REIT by 24.0% in the first quarter. Parametric Portfolio Associates LLC now owns 26,529 shares of the company’s stock worth $241,000 after buying an additional 5,129 shares during the last quarter. Wedbush Securities Inc. raised its position in Global Medical REIT by 6.2% in the first quarter. Wedbush Securities Inc. now owns 14,500 shares of the company’s stock worth $132,000 after buying an additional 849 shares during the last quarter. Finally, First Dallas Securities Inc. raised its position in Global Medical REIT by 10.9% in the first quarter. First Dallas Securities Inc. now owns 89,800 shares of the company’s stock worth $815,000 after buying an additional 8,800 shares during the last quarter.
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Shares of Global Medical REIT (GMRE) traded up 0.23% during midday trading on Thursday, hitting $8.77. 210,569 shares of the stock traded hands. Global Medical REIT has a one year low of $6.73 and a one year high of $11.38. The firm has a 50-day moving average price of $9.52 and a 200 day moving average price of $9.05.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 10th. Shareholders of record on Tuesday, June 27th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.12%. The ex-dividend date of this dividend is Friday, June 23rd.
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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