Wall Street brokerages expect Global Medical REIT Inc (NYSE:GMRE) to report sales of $14.44 million for the current quarter, Zacks reports. Three analysts have made estimates for Global Medical REIT’s earnings, with the highest sales estimate coming in at $15.38 million and the lowest estimate coming in at $13.86 million. Global Medical REIT reported sales of $8.39 million in the same quarter last year, which indicates a positive year over year growth rate of 72.1%. The company is scheduled to announce its next earnings results on Thursday, November 8th.
According to Zacks, analysts expect that Global Medical REIT will report full-year sales of $54.73 million for the current fiscal year, with estimates ranging from $52.76 million to $57.66 million. For the next fiscal year, analysts expect that the company will report sales of $69.52 million per share, with estimates ranging from $59.23 million to $89.09 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Global Medical REIT.
Global Medical REIT (NYSE:GMRE) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the 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 for the quarter, compared to analyst estimates of $12.86 million.
Hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Global Medical REIT by 4.3% in the first quarter. BlackRock Inc. now owns 867,332 shares of the company’s stock worth $6,027,000 after purchasing an additional 35,430 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Global Medical REIT by 77.6% in the first quarter. Dimensional Fund Advisors LP now owns 57,936 shares of the company’s stock worth $403,000 after purchasing an additional 25,321 shares during the period. Citigroup Inc. increased its position in shares of Global Medical REIT by 511.1% in the first quarter. Citigroup Inc. now owns 34,826 shares of the company’s stock worth $242,000 after purchasing an additional 29,127 shares during the period. Stifel Financial Corp increased its position in shares of Global Medical REIT by 29.2% in the first quarter. Stifel Financial Corp now owns 189,956 shares of the company’s stock worth $1,319,000 after purchasing an additional 42,958 shares during the period. Finally, GSA Capital Partners LLP increased its position in shares of Global Medical REIT by 329.0% in the first quarter. GSA Capital Partners LLP now owns 99,100 shares of the company’s stock worth $689,000 after purchasing an additional 76,000 shares during the period. Hedge funds and other institutional investors own 41.99% of the company’s stock.
Shares of Global Medical REIT stock opened at $9.42 on Friday. Global Medical REIT has a 1 year low of $6.34 and a 1 year high of $10.05. The firm has a market cap of $214.58 million, a price-to-earnings ratio of 17.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.54. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.14 and a quick ratio of 0.14.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Shareholders of record on Thursday, September 20th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 8.49%. The ex-dividend date of this dividend is Wednesday, September 19th. Global Medical REIT’s payout ratio is 148.15%.
About Global Medical REIT
Global Medical REIT Inc is a Maryland corporation engaged primarily in the acquisition of licensed, state-of-the-art, purpose-built healthcare facilities and the leasing of these facilities to strong clinical operators with leading market share. The Company's management team has significant healthcare, real estate and public real estate investment trust, or REIT, experience and has long-established relationships with a wide range of healthcare providers.
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