Zacks: Analysts Anticipate Global Medical REIT Inc (GMRE) Will Post Earnings of $0.23 Per Share
Equities analysts forecast that Global Medical REIT Inc (NYSE:GMRE) will announce $0.23 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Global Medical REIT’s earnings, with estimates ranging from $0.21 to $0.25. Global Medical REIT posted earnings of $0.17 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 35.3%. The business is scheduled to announce its next earnings results on Thursday, November 8th.
On average, analysts expect that Global Medical REIT will report full year earnings of $0.82 per share for the current year, with EPS estimates ranging from $0.78 to $0.89. For the next fiscal year, analysts anticipate that the company will report earnings of $0.92 per share, with EPS estimates ranging from $0.86 to $1.00. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.01). Global Medical REIT had a net margin of 8.00% and a return on equity of 1.91%. The business had revenue of $13.25 million during the quarter, compared to analysts’ expectations of $12.86 million.
Shares of Global Medical REIT stock traded down $0.09 during trading on Friday, reaching $8.85. The company’s stock had a trading volume of 130,533 shares, compared to its average volume of 129,509. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14. Global Medical REIT has a 12-month low of $6.34 and a 12-month high of $10.05. The company has a market cap of $203.76 million, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.54.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 10th. Investors of record on Thursday, September 20th were paid a $0.20 dividend. The ex-dividend date was Wednesday, September 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 9.04%. Global Medical REIT’s dividend payout ratio (DPR) is presently 148.15%.
Several institutional investors have recently bought and sold shares of GMRE. Bank of New York Mellon Corp raised its holdings in Global Medical REIT by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 184,553 shares of the company’s stock worth $1,635,000 after purchasing an additional 7,143 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Global Medical REIT by 32.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 37,600 shares of the company’s stock worth $334,000 after purchasing an additional 9,200 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Global Medical REIT by 9.6% during the second quarter. Renaissance Technologies LLC now owns 172,900 shares of the company’s stock worth $1,532,000 after purchasing an additional 15,200 shares during the last quarter. A.R.T. Advisors LLC raised its holdings in Global Medical REIT by 126.4% during the first quarter. A.R.T. Advisors LLC now owns 28,130 shares of the company’s stock worth $195,000 after purchasing an additional 15,703 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Global Medical REIT during the second quarter worth $194,000. Hedge funds and other institutional investors own 41.99% of the company’s stock.
Global Medical REIT Company Profile
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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