Global Medical REIT Inc. (GMRE) Expected to Post Quarterly Sales of $10.33 Million

Equities analysts expect Global Medical REIT Inc. (NYSE:GMRE) to post $10.33 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Global Medical REIT’s earnings, with the lowest sales estimate coming in at $10.24 million and the highest estimate coming in at $10.41 million. Global Medical REIT posted sales of $3.12 million during the same quarter last year, which suggests a positive year over year growth rate of 231.1%. The firm is scheduled to announce its next earnings report on Monday, March 26th.

On average, analysts expect that Global Medical REIT will report full year sales of $10.33 million for the current year, with estimates ranging from $30.71 million to $30.88 million. For the next fiscal year, analysts forecast that the firm will report sales of $55.72 million per share, with estimates ranging from $54.26 million to $57.17 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that follow Global Medical REIT.

A number of equities analysts have recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $10.50 target price on shares of Global Medical REIT in a research report on Friday, November 10th. DA Davidson lowered shares of Global Medical REIT from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $11.00 to $10.00 in a research report on Tuesday, August 22nd. Zacks Investment Research upgraded shares of Global Medical REIT from a “sell” rating to a “hold” rating and set a $10.00 target price on the stock in a research report on Tuesday, November 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 target price on shares of Global Medical REIT in a research report on Friday, September 1st. Finally, FBR & Co reiterated a “buy” rating and set a $10.50 target price (up from $10.00) on shares of Global Medical REIT in a research report on Monday, September 18th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $10.60.

Shares of Global Medical REIT (NYSE:GMRE) traded down $0.20 during mid-day trading on Monday, hitting $9.34. 113,600 shares of the stock were exchanged, compared to its average volume of 130,716. Global Medical REIT has a 12 month low of $7.15 and a 12 month high of $10.25. The firm has a market capitalization of $202.03, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.97 and a beta of -0.18. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.22 and a quick ratio of 0.22.

Large investors have recently modified their holdings of the business. UBS Group AG boosted its holdings in shares of Global Medical REIT by 14.2% in the first quarter. UBS Group AG now owns 11,847 shares of the company’s stock valued at $108,000 after buying an additional 1,477 shares during the period. SG Americas Securities LLC acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $115,000. Nomura Asset Management Co. Ltd. acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $120,000. Wedbush Securities Inc. boosted its holdings in shares of Global Medical REIT by 5.8% in the second quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock valued at $137,000 after buying an additional 834 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $154,000. 41.00% of the stock is owned by hedge funds and other institutional investors.

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