Global Medical REIT Inc. (GMRE) Expected to Post Earnings of $0.14 Per Share

Brokerages expect Global Medical REIT Inc. (NYSE:GMRE) to report earnings of $0.14 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Global Medical REIT’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.16. Global Medical REIT posted earnings of ($0.11) per share in the same quarter last year, which would indicate a positive year over year growth rate of 227.3%. The firm is expected to issue its next quarterly earnings results on Monday, March 26th.

On average, analysts expect that Global Medical REIT will report full year earnings of $0.35 per share for the current fiscal year, with EPS estimates ranging from $0.33 to $0.37. For the next year, analysts expect that the company will report earnings of $0.72 per share, with EPS estimates ranging from $0.55 to $0.83. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that cover Global Medical REIT.

Several analysts have issued reports on the stock. B. Riley reiterated a “buy” rating on shares of Global Medical REIT in a research note on Wednesday, November 1st. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. DA Davidson cut shares of Global Medical REIT from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $11.00 to $10.00 in a research report on Tuesday, August 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price objective on shares of Global Medical REIT in a research report on Friday, September 1st. Finally, FBR & Co restated a “buy” rating and set a $10.50 price objective (up previously from $10.00) on shares of Global Medical REIT in a research report on Monday, September 18th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.60.

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Global Medical REIT (NYSE:GMRE) traded up $0.22 during midday trading on Friday, reaching $9.56. 88,282 shares of the company’s stock traded hands, compared to its average volume of 131,920. Global Medical REIT has a fifty-two week low of $7.12 and a fifty-two week high of $10.25. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.72. The stock has a market cap of $202.03, a PE ratio of 23.95, a PEG ratio of 2.97 and a beta of -49.42.

Institutional investors have recently bought and sold shares of the company. UBS Group AG raised its position in shares of Global Medical REIT by 14.2% during the 1st 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 in the last quarter. SG Americas Securities LLC purchased a new position in Global Medical REIT in the 3rd quarter worth $115,000. Nomura Asset Management Co. Ltd. purchased a new position in Global Medical REIT in the 3rd quarter worth $120,000. Spirit of America Management Corp NY raised its position in Global Medical REIT by 50.0% in the 2nd quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock worth $134,000 after purchasing an additional 5,000 shares during the period. Finally, Wedbush Securities Inc. raised its position in Global Medical REIT by 5.8% in the 2nd quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock worth $137,000 after purchasing an additional 834 shares during the period. Hedge funds and other institutional investors own 35.93% of the company’s stock.

About Global Medical REIT

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Earnings History and Estimates for Global Medical REIT (NYSE:GMRE)

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