Brokerages Expect Global Medical REIT Inc (GMRE) to Post $0.14 Earnings Per Share

Equities analysts predict that Global Medical REIT Inc (NYSE:GMRE) will report $0.14 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Global Medical REIT’s earnings, with the lowest EPS estimate coming in at $0.12 and the highest estimate coming in at $0.16. Global Medical REIT posted earnings of $0.06 per share during the same quarter last year, which suggests a positive year over year growth rate of 133.3%. The firm is scheduled to report its next earnings report on Monday, March 26th.

On average, analysts expect that Global Medical REIT will report full year earnings of $0.34 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.35. For the next financial year, analysts forecast that the company will post earnings of $0.70 per share, with EPS estimates ranging from $0.55 to $0.83. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Global Medical REIT.

A number of analysts have issued reports on GMRE shares. Zacks Investment Research downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a report on Wednesday, November 1st. Finally, TheStreet downgraded shares of Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $10.20.

Several institutional investors have recently bought and sold shares of GMRE. Rhumbline Advisers increased its holdings in shares of Global Medical REIT by 47.6% in the 2nd quarter. Rhumbline Advisers now owns 17,699 shares of the company’s stock worth $158,000 after buying an additional 5,710 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Global Medical REIT by 8.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 137,481 shares of the company’s stock worth $1,229,000 after buying an additional 11,126 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Global Medical REIT by 20.6% in the 2nd quarter. Wells Fargo & Company MN now owns 26,819 shares of the company’s stock worth $239,000 after buying an additional 4,589 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Global Medical REIT by 5.0% in the 2nd quarter. Teachers Advisors LLC now owns 26,279 shares of the company’s stock worth $235,000 after buying an additional 1,243 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Global Medical REIT by 2.0% in the 2nd 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. Hedge funds and other institutional investors own 41.82% of the company’s stock.

Shares of Global Medical REIT (NYSE GMRE) traded down $0.05 during midday trading on Thursday, reaching $7.20. 83,214 shares of the company’s stock were exchanged, compared to its average volume of 126,967. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.22 and a current ratio of 0.22. The company has a market cap of $155.74, a P/E ratio of -36.00, a P/E/G ratio of 1.14 and a beta of -41.48. Global Medical REIT has a one year low of $6.84 and a one year high of $10.25.

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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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