Global Medical REIT Inc (NYSE:GMRE) Expected to Announce Quarterly Sales of $16.74 Million

Wall Street brokerages expect Global Medical REIT Inc (NYSE:GMRE) to report $16.74 million in sales for the current quarter, according to Zacks. Four analysts have made estimates for Global Medical REIT’s earnings, with estimates ranging from $15.93 million to $17.15 million. Global Medical REIT posted sales of $13.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 26.3%. The firm is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 7th.

On average, analysts expect that Global Medical REIT will report full year sales of $67.86 million for the current fiscal year, with estimates ranging from $63.21 million to $71.18 million. For the next financial year, analysts forecast that the company will post sales of $81.19 million, with estimates ranging from $65.18 million to $94.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Global Medical REIT.

Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.18). Global Medical REIT had a return on equity of 5.52% and a net margin of 21.38%. The business had revenue of $15.20 million during the quarter, compared to the consensus estimate of $15.32 million.

Several research analysts have recently weighed in on GMRE shares. TheStreet raised Global Medical REIT from a “c+” rating to a “b” rating in a research report on Thursday, May 9th. ValuEngine cut Global Medical REIT from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised Global Medical REIT from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 11th. Stifel Nicolaus started coverage on Global Medical REIT in a research report on Monday, April 15th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Boenning Scattergood reaffirmed a “buy” rating and set a $11.00 price objective on shares of Global Medical REIT in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $10.67.

Several hedge funds have recently bought and sold shares of the company. Financial Advantage Inc. acquired a new position in Global Medical REIT during the first quarter valued at approximately $31,000. Daiwa Securities Group Inc. boosted its position in Global Medical REIT by 100.0% during the first quarter. Daiwa Securities Group Inc. now owns 3,800 shares of the company’s stock valued at $37,000 after purchasing an additional 1,900 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Global Medical REIT by 639.1% during the first quarter. BNP Paribas Arbitrage SA now owns 4,782 shares of the company’s stock valued at $47,000 after purchasing an additional 4,135 shares during the last quarter. State of Alaska Department of Revenue boosted its position in Global Medical REIT by 19.9% during the first quarter. State of Alaska Department of Revenue now owns 7,412 shares of the company’s stock valued at $72,000 after purchasing an additional 1,229 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Global Medical REIT during the first quarter valued at approximately $85,000. 52.27% of the stock is owned by institutional investors.

GMRE stock opened at $10.21 on Friday. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $341.07 million, a PE ratio of 13.09, a P/E/G ratio of 1.52 and a beta of 0.42. The stock’s 50-day moving average price is $10.65. Global Medical REIT has a fifty-two week low of $8.15 and a fifty-two week high of $11.51.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 25th. This represents a $0.80 annualized dividend and a dividend yield of 7.84%. Global Medical REIT’s dividend payout ratio is currently 102.56%.

About Global Medical REIT

Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and leasing of those properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is headquartered in Bethesda, MD.

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

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