Wall Street analysts predict that Global Medical REIT Inc. (NYSE:GMRE) will post $10.33 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Global Medical REIT’s earnings, with estimates ranging from $10.24 million to $10.41 million. Global Medical REIT reported sales of $3.12 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 231.1%. The business is scheduled to report its next earnings results on Monday, March 26th.

On average, analysts expect that Global Medical REIT will report full year sales of $10.33 million for the current financial year, with estimates ranging from $30.71 million to $30.88 million. For the next fiscal year, analysts expect that the business will post sales of $55.72 million per share, with estimates ranging from $54.26 million to $57.17 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Global Medical REIT.

GMRE has been the subject of several research analyst reports. Zacks Investment Research lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. DA Davidson downgraded Global Medical REIT from a “buy” rating to a “neutral” rating and reduced their target price for the company from $11.00 to $10.00 in a report on Tuesday, August 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 target price on shares of Global Medical REIT in a report on Friday, September 1st. B. Riley reaffirmed a “buy” rating and set a $10.50 target price on shares of Global Medical REIT in a report on Friday, November 10th. Finally, FBR & Co reaffirmed a “buy” rating and set a $10.50 target price (up from $10.00) on shares of Global Medical REIT in a report on Monday, September 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $10.60.

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in Global Medical REIT by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 126,355 shares of the company’s stock worth $1,147,000 after purchasing an additional 937 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in Global Medical REIT by 24.0% in the 1st quarter. Parametric Portfolio Associates LLC now owns 26,529 shares of the company’s stock worth $241,000 after purchasing an additional 5,129 shares during the last quarter. UBS Group AG increased its position in Global Medical REIT by 14.2% in the 1st quarter. UBS Group AG now owns 11,847 shares of the company’s stock worth $108,000 after purchasing an additional 1,477 shares during the last quarter. Manning & Napier Advisors LLC increased its position in Global Medical REIT by 17.3% in the 2nd quarter. Manning & Napier Advisors LLC now owns 609,735 shares of the company’s stock worth $5,449,000 after purchasing an additional 89,975 shares during the last quarter. Finally, RMR Advisors LLC increased its position in Global Medical REIT by 37.5% in the 2nd quarter. RMR Advisors LLC now owns 110,000 shares of the company’s stock worth $983,000 after purchasing an additional 30,000 shares during the last quarter. 35.93% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Global Medical REIT (NYSE GMRE) traded down $0.05 during trading on Friday, hitting $9.34. The stock had a trading volume of 72,617 shares, compared to its average volume of 87,455. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market capitalization of $202.03, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.97 and a beta of -0.71. Global Medical REIT has a twelve month low of $7.12 and a twelve month high of $10.25.

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Earnings History and Estimates for Global Medical REIT (NYSE:GMRE)

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