Analysts predict that Global Medical REIT (NYSE:GMRE) will report $0.17 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have made estimates for Global Medical REIT’s earnings. The lowest EPS estimate is $0.15 and the highest is $0.20. Global Medical REIT reported earnings of $0.02 per share in the same quarter last year, which suggests a positive year over year growth rate of 750%. The firm is expected to issue its next quarterly earnings report on Thursday, May 10th.
According to Zacks, analysts expect that Global Medical REIT will report full-year earnings of $0.76 per share for the current year, with EPS estimates ranging from $0.65 to $0.86. For the next fiscal year, analysts expect that the firm will report earnings of $0.82 per share, with EPS estimates ranging from $0.76 to $0.91. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Global Medical REIT.
A number of analysts have recently issued reports on GMRE shares. Zacks Investment Research downgraded shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Monday, February 5th. TheStreet downgraded shares of Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st. Finally, Cantor Fitzgerald started coverage on shares of Global Medical REIT in a report on Wednesday, March 7th. They issued a “buy” rating and a $12.00 price objective on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.70.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 10th. Investors of record on Thursday, March 22nd will be issued a dividend of $0.20 per share. The ex-dividend date is Wednesday, March 21st. This represents a $0.80 dividend on an annualized basis and a yield of 11.64%. Global Medical REIT’s payout ratio is 148.15%.
In other news, Chairman Jeffrey Busch bought 6,000 shares of the stock in a transaction that occurred on 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 16.51% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Northern Trust Corp increased its holdings in Global Medical REIT by 2.0% during the second quarter. Northern Trust Corp now owns 147,978 shares of the company’s stock worth $1,323,000 after buying an additional 2,873 shares during the last quarter. Vanguard Group Inc. increased its holdings in Global Medical REIT by 0.8% during the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock worth $4,667,000 after buying an additional 4,044 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Global Medical REIT by 21.9% during the third quarter. Wells Fargo & Company MN now owns 32,681 shares of the company’s stock worth $294,000 after buying an additional 5,862 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Global Medical REIT by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 145,755 shares of the company’s stock worth $1,309,000 after buying an additional 8,274 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Global Medical REIT by 67.2% during the fourth quarter. SG Americas Securities LLC now owns 21,463 shares of the company’s stock worth $176,000 after buying an additional 8,624 shares during the last quarter. Institutional investors and hedge funds own 44.72% of the company’s stock.
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About Global Medical REIT
Global Medical REIT Inc is engaged primarily in the acquisition of licensed, purpose-built healthcare facilities and the leasing of these facilities to clinical operators with market share. The Company’s strategy is to produce increasing, reliable rental revenue by expanding its portfolio, and leasing its healthcare facilities to market operators under long-term triple-net leases.
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