Equities research analysts forecast that Global Medical REIT (NYSE:GMRE) will announce earnings of $0.17 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Global Medical REIT’s earnings. The highest EPS estimate is $0.20 and the lowest is $0.15. Global Medical REIT reported earnings of $0.02 per share during the same quarter last year, which suggests a positive year over year growth rate of 750%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, May 8th.
On average, analysts expect that Global Medical REIT will report full year earnings of $0.76 per share for the current fiscal year, with EPS estimates ranging from $0.65 to $0.86. For the next financial year, analysts anticipate 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 EPS calculations are an average based on a survey of sell-side research analysts that follow Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, March 7th. The company reported ($0.01) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.15). The business had revenue of $9.87 million for the quarter, compared to analyst estimates of $10.33 million. Global Medical REIT had a negative return on equity of 0.88% and a negative net margin of 5.01%.
NYSE:GMRE traded up $0.27 during trading hours on Tuesday, reaching $8.06. 210,754 shares of the company’s stock were exchanged, compared to its average volume of 149,438. The stock has a market cap of $167.85, a P/E ratio of 14.93, a P/E/G ratio of 1.14 and a beta of 0.44. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.18 and a quick ratio of 0.18. Global Medical REIT has a 1-year low of $6.34 and a 1-year high of $10.25.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 10th. Shareholders of record on Thursday, March 22nd were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Wednesday, March 21st. This represents a $0.80 dividend on an annualized basis and a yield of 9.93%. Global Medical REIT’s payout ratio is currently 148.15%.
In other news, Chairman Jeffrey Busch acquired 6,000 shares of the business’s stock in a transaction on Tuesday, March 13th. The stock was bought at an average price of $7.13 per share, for a total transaction of $42,780.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 16.51% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in GMRE. SG Americas Securities LLC purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $115,000. Nomura Asset Management Co. Ltd. purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $120,000. Wells Fargo & Company MN increased its holdings in shares of Global Medical REIT by 21.9% in the 3rd quarter. Wells Fargo & Company MN now owns 32,681 shares of the company’s stock valued at $294,000 after purchasing an additional 5,862 shares in the last quarter. Asset Management One Co. Ltd. increased its holdings in shares of Global Medical REIT by 36,351.0% in the 3rd quarter. Asset Management One Co. Ltd. now owns 36,451 shares of the company’s stock valued at $333,000 after purchasing an additional 36,351 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in shares of Global Medical REIT in the 4th quarter valued at about $421,000. Institutional investors and hedge funds own 44.69% of the company’s stock.
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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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