Brokers Offer Predictions for Global Medical REIT Inc’s FY2017 Earnings (GMRE)
Global Medical REIT Inc (NASDAQ:GMRE) – Equities researchers at DA Davidson lowered their FY2017 earnings per share (EPS) estimates for shares of Global Medical REIT in a report issued on Thursday. DA Davidson analyst B. Oxford now expects that the company will post earnings per share of $0.31 for the year, down from their previous forecast of $0.32. DA Davidson has a “Neutral” rating and a $10.00 price objective on the stock. DA Davidson also issued estimates for Global Medical REIT’s Q1 2018 earnings at $0.15 EPS and FY2018 earnings at $0.71 EPS.
GMRE has been the subject of a number of other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price objective on shares of Global Medical REIT in a research note on Friday, September 1st. Zacks Investment Research lowered Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. FBR & Co reaffirmed an “outperform” rating and issued a $10.00 price objective on shares of Global Medical REIT in a research note on Tuesday, July 11th. Finally, TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.50.
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Shares of Global Medical REIT (NASDAQ:GMRE) opened at 9.21 on Friday. Global Medical REIT has a 12-month low of $6.73 and a 12-month high of $10.64. The firm has a 50 day moving average price of $9.31 and a 200 day moving average price of $8.95.
Global Medical REIT (NASDAQ:GMRE) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.17). Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%. The business had revenue of $7.42 million during the quarter, compared to analysts’ expectations of $6.16 million.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, September 26th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 8.69%. The ex-dividend date is Monday, September 25th.
In other Global Medical REIT news, Chairman Jeffrey Busch acquired 11,100 shares of the company’s stock in a transaction dated Friday, June 30th. The stock was purchased at an average price of $9.00 per share, with a total value of $99,900.00. Following the completion of the purchase, the chairman now directly owns 20,110 shares in the company, valued at approximately $180,990. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GMRE. Teachers Advisors LLC boosted its stake in shares of Global Medical REIT by 37.5% in the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock worth $197,000 after acquiring an additional 6,018 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Global Medical REIT by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 126,355 shares of the company’s stock worth $1,147,000 after acquiring an additional 937 shares during the period. Parametric Portfolio Associates LLC boosted its stake in shares of 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 acquiring an additional 5,129 shares during the period. Neuberger Berman Group LLC bought a new position in shares of Global Medical REIT in the first quarter worth about $601,000. Finally, BB&T Securities LLC boosted its stake in shares of Global Medical REIT by 260.7% in the first quarter. BB&T Securities LLC now owns 53,739 shares of the company’s stock worth $487,000 after acquiring an additional 38,839 shares during the period.
About Global Medical REIT
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