Global Medical REIT Inc Expected to Earn FY2018 Earnings of $0.81 Per Share (GMRE)
Global Medical REIT Inc (NYSE:GMRE) – Analysts at B. Riley lowered their FY2018 EPS estimates for shares of Global Medical REIT in a research note issued on Friday, August 10th. B. Riley analyst B. Maher now expects that the company will earn $0.81 per share for the year, down from their prior estimate of $0.82. B. Riley currently has a “Buy” rating and a $11.00 target price on the stock.
Global Medical REIT (NYSE:GMRE) last issued its earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $13.25 million during the quarter, compared to the consensus estimate of $12.86 million. Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%.
Shares of NYSE GMRE opened at $9.22 on Monday. The stock has a market capitalization of $196.84 million, a PE ratio of 13.00, a price-to-earnings-growth ratio of 1.22 and a beta of 0.35. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.14 and a current ratio of 0.14. Global Medical REIT has a 1 year low of $6.34 and a 1 year high of $9.83.
A number of institutional investors have recently added to or reduced their stakes in GMRE. Bank of New York Mellon Corp lifted its stake in Global Medical REIT by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 184,553 shares of the company’s stock valued at $1,635,000 after buying an additional 7,143 shares in the last quarter. Teachers Insurance & Annuity Association of America lifted its stake in Global Medical REIT by 53.3% in the first quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock valued at $153,000 after buying an additional 7,627 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Global Medical REIT by 32.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock valued at $334,000 after buying an additional 9,200 shares in the last quarter. Geode Capital Management LLC lifted its stake in Global Medical REIT by 10.5% in the fourth quarter. Geode Capital Management LLC now owns 141,586 shares of the company’s stock valued at $1,161,000 after buying an additional 13,441 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in Global Medical REIT by 9.6% in the second quarter. Renaissance Technologies LLC now owns 172,900 shares of the company’s stock valued at $1,532,000 after buying an additional 15,200 shares in the last quarter. 38.30% of the stock is currently owned by institutional investors and hedge funds.
About Global Medical REIT
Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.
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