Global Medical REIT (GMRE) Expected to Announce Quarterly Sales of $13.11 Million

Analysts expect that Global Medical REIT (NYSE:GMRE) will report $13.11 million in sales for the current quarter, Zacks Investment Research reports. 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 reported sales of $7.42 million in the same quarter last year, which indicates a positive year over year growth rate of 76.7%. The business is scheduled to announce its next earnings results 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 financial year, analysts forecast that the firm will post sales of $65.46 million per share, with estimates ranging from $56.50 million to $74.43 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow 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 Thomson Reuters’ consensus estimate of $0.04 by ($0.02). The company had revenue of $11.56 million for the quarter, compared to analysts’ expectations of $11.50 million. Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%.



Several brokerages have recently issued reports on GMRE. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “sell” rating in a research report on Friday, May 11th. B. Riley reduced their price target on shares of Global Medical REIT from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 10th. DA Davidson raised shares of Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday, March 28th. Finally, Cantor Fitzgerald began coverage on shares of Global Medical REIT in a research report on Wednesday, March 7th. They set a “buy” rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $10.05.

Shares of Global Medical REIT opened at $8.80 on Friday, Marketbeat.com reports. The stock has a market cap of $194.24 million, a price-to-earnings ratio of 16.30, a P/E/G ratio of 1.21 and a beta of 0.50. Global Medical REIT has a 1-year low of $6.34 and a 1-year 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.

In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of Global Medical REIT stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average price of $7.13 per share, with a total value of $42,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 13.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Teachers Insurance & Annuity Association of America lifted its position in shares of Global Medical REIT by 53.3% during the first quarter. Teachers Insurance & Annuity Association of America now owns 21,950 shares of the company’s stock worth $153,000 after purchasing an additional 7,627 shares in the last quarter. SG Americas Securities LLC raised its holdings in Global Medical REIT by 67.2% in the fourth quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock valued at $176,000 after acquiring an additional 8,624 shares in the last quarter. A.R.T. Advisors LLC raised its holdings in Global Medical REIT by 126.4% in the first quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock valued at $195,000 after acquiring an additional 15,703 shares in the last quarter. Citigroup Inc. raised its holdings in Global Medical REIT by 511.1% in the first quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock valued at $242,000 after acquiring an additional 29,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Global Medical REIT by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 57,936 shares of the company’s stock valued at $403,000 after acquiring an additional 25,321 shares in the last quarter. 38.80% of the stock is currently owned by institutional investors and hedge funds.

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

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