Brokers Issue Forecasts for Global Medical REIT Inc’s Q3 2018 Earnings (GMRE)

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Global Medical REIT Inc (NYSE:GMRE) – Stock analysts at Boenning Scattergood upped their Q3 2018 EPS estimates for Global Medical REIT in a report released on Thursday, August 9th. Boenning Scattergood analyst M. Ross now anticipates that the company will earn $0.25 per share for the quarter, up from their previous estimate of $0.21. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Global Medical REIT’s Q4 2018 earnings at $0.23 EPS, FY2018 earnings at $0.83 EPS, Q1 2019 earnings at $0.26 EPS, Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.25 EPS, Q4 2019 earnings at $0.25 EPS and FY2019 earnings at $1.00 EPS.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.01). The company had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $12.86 million. Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%.

Several other equities analysts have also commented on GMRE. Zacks Investment Research upgraded shares of Global Medical REIT from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Thursday. B. Riley set a $11.00 price target on shares of Global Medical REIT and gave the company a “buy” rating in a research note on Friday. Finally, TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a research note on Friday, June 29th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Global Medical REIT currently has a consensus rating of “Buy” and an average target price of $10.30.

Shares of Global Medical REIT stock opened at $9.10 on Monday. The company has a market capitalization of $193.81 million, a price-to-earnings ratio of 16.85, a P/E/G ratio of 1.21 and a beta of 0.35. Global Medical REIT has a 52 week low of $6.34 and a 52 week high of $9.83. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.17 and a current ratio of 0.17.

Several hedge funds have recently bought and sold shares of GMRE. Renaissance Technologies LLC acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $1,755,000. Millennium Management LLC boosted its holdings in shares of Global Medical REIT by 370.7% in the first quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock valued at $1,593,000 after acquiring an additional 180,465 shares during the period. BlackRock Inc. boosted its holdings in shares of Global Medical REIT by 16.5% in the second quarter. BlackRock Inc. now owns 1,010,733 shares of the company’s stock valued at $8,955,000 after acquiring an additional 143,401 shares during the period. Deutsche Bank AG boosted its holdings in shares of Global Medical REIT by 676.9% in the fourth quarter. Deutsche Bank AG now owns 163,447 shares of the company’s stock valued at $1,339,000 after acquiring an additional 142,408 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of Global Medical REIT by 27.8% in the second quarter. State of New Jersey Common Pension Fund D now owns 428,000 shares of the company’s stock valued at $3,792,000 after acquiring an additional 93,000 shares during the period. 38.20% of the stock is 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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