Global Medical REIT Inc (NYSE:GMRE) – Analysts at DA Davidson lowered their FY2018 earnings estimates for Global Medical REIT in a research note issued on Tuesday, November 6th. DA Davidson analyst B. Oxford now forecasts that the company will post earnings of $0.78 per share for the year, down from their previous forecast of $0.89. DA Davidson also issued estimates for Global Medical REIT’s Q4 2019 earnings at $0.24 EPS.
Other research analysts also recently issued reports about the company. Boenning Scattergood raised Global Medical REIT from a “neutral” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Wednesday. Robert W. Baird began coverage on shares of Global Medical REIT in a research report on Thursday, October 11th. They issued an “outperform” rating and a $11.00 price objective for the company. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, B. Riley set a $11.00 price objective on shares of Global Medical REIT and gave the stock a “buy” rating in a research report on Friday, August 10th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $10.50.
Global Medical REIT (NYSE:GMRE) last released its earnings results on Monday, November 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.22). Global Medical REIT had a return on equity of 2.65% and a net margin of 9.87%. The firm had revenue of $14.00 million for the quarter, compared to analyst estimates of $14.34 million.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Thursday, September 20th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 8.45%. The ex-dividend date of this dividend was Wednesday, September 19th. Global Medical REIT’s dividend payout ratio (DPR) is presently 148.15%.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in shares of Global Medical REIT by 16.5% during the 2nd 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 last quarter. State of New Jersey Common Pension Fund D raised its position in shares of Global Medical REIT by 27.8% during the 2nd 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 last quarter. Citadel Advisors LLC bought a new stake in shares of Global Medical REIT during the 2nd quarter valued at $194,000. Renaissance Technologies LLC raised its position in shares of Global Medical REIT by 9.6% during the 2nd quarter. Renaissance Technologies LLC now owns 172,900 shares of the company’s stock valued at $1,532,000 after acquiring an additional 15,200 shares during the last quarter. Finally, RMR Advisors LLC raised its position in shares of Global Medical REIT by 8.7% during the 2nd quarter. RMR Advisors LLC now owns 437,967 shares of the company’s stock valued at $3,880,000 after acquiring an additional 35,126 shares during the last quarter. Hedge funds and other institutional investors own 42.01% of the company’s stock.
About Global Medical REIT
Global Medical REIT, Inc operates as a development stage company that intends to develop and manage a portfolio of healthcare real estate assets and properties. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.
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