Equities analysts forecast that Global Medical REIT (NYSE:GMRE) will post sales of $13.11 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Global Medical REIT’s earnings. The lowest sales estimate is $12.77 million and the highest is $13.45 million. Global Medical REIT posted sales of $7.42 million during the same quarter last year, which suggests a positive year-over-year growth rate of 76.7%. The company is expected to announce its next quarterly earnings report on Thursday, August 9th.
According to Zacks, analysts expect that Global Medical REIT will report full year sales of $53.65 million for the current fiscal year, with estimates ranging from $52.72 million to $54.58 million. For the next fiscal year, analysts expect that the firm will post sales of $65.46 million per share, with estimates ranging from $56.50 million to $74.43 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its earnings results on Tuesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.02). Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%. The business had revenue of $11.56 million for the quarter, compared to analyst estimates of $11.50 million.
In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average cost of $7.13 per share, for a total transaction of $42,780.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 13.00% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in GMRE. BlackRock Inc. boosted its position in Global Medical REIT by 4.3% during the first quarter. BlackRock Inc. now owns 867,332 shares of the company’s stock worth $6,027,000 after acquiring an additional 35,430 shares during the last quarter. Pacific Ridge Capital Partners LLC acquired a new stake in Global Medical REIT during the fourth quarter worth approximately $3,266,000. Goldman Sachs Group Inc. boosted its position in Global Medical REIT by 378.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock worth $3,154,000 after acquiring an additional 304,286 shares during the last quarter. RMR Advisors LLC boosted its position in Global Medical REIT by 169.0% during the fourth quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock worth $2,832,000 after acquiring an additional 216,943 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Global Medical REIT by 370.7% during the first quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock worth $1,593,000 after acquiring an additional 180,465 shares during the last quarter. Institutional investors and hedge funds own 38.87% of the company’s stock.
NYSE GMRE traded up $0.15 during trading hours on Wednesday, hitting $8.83. 107,596 shares of the stock were exchanged, compared to its average volume of 122,570. The stock has a market capitalization of $187.75 million, a P/E ratio of 13.56, a P/E/G ratio of 1.17 and a beta of 0.34. Global Medical REIT has a 12-month low of $6.34 and a 12-month high of $10.25. The company has a quick ratio of 0.17, a current ratio of 0.17 and a debt-to-equity ratio of 1.31.
Global Medical REIT Company Profile
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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