Analysts forecast that Global Medical REIT Inc. (NYSE:GMRE – Get Rating) will announce $31.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Global Medical REIT’s earnings, with the lowest sales estimate coming in at $29.92 million and the highest estimate coming in at $32.80 million. Global Medical REIT posted sales of $28.26 million during the same quarter last year, which would indicate a positive year over year growth rate of 12.3%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Global Medical REIT will report full year sales of $127.73 million for the current fiscal year, with estimates ranging from $119.76 million to $132.84 million. For the next year, analysts forecast that the company will post sales of $133.58 million, with estimates ranging from $120.21 million to $152.54 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Global Medical REIT.
Global Medical REIT (NYSE:GMRE – Get Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.19). Global Medical REIT had a net margin of 14.17% and a return on equity of 3.05%. During the same period in the previous year, the firm earned $0.24 EPS.
Shares of GMRE stock opened at $12.49 on Thursday. The stock has a market capitalization of $816.78 million, a PE ratio of 62.45, a P/E/G ratio of 1.72 and a beta of 0.90. Global Medical REIT has a 1-year low of $12.20 and a 1-year high of $18.51. The business has a 50-day moving average of $15.39 and a 200 day moving average of $16.24. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.19 and a quick ratio of 0.19.
The business also recently announced a quarterly dividend, which was paid on Friday, April 8th. Stockholders of record on Friday, March 25th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 6.73%. This is a boost from Global Medical REIT’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, March 24th. Global Medical REIT’s dividend payout ratio (DPR) is currently 420.02%.
In related news, CEO Jeffrey Busch bought 2,000 shares of the company’s stock in a transaction dated Thursday, March 3rd. The stock was purchased at an average cost of $15.55 per share, with a total value of $31,100.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 7.60% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. grew its holdings in Global Medical REIT by 1.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 56,994 shares of the company’s stock worth $838,000 after purchasing an additional 611 shares during the period. Arizona State Retirement System raised its stake in Global Medical REIT by 4.3% during the fourth quarter. Arizona State Retirement System now owns 16,414 shares of the company’s stock valued at $291,000 after buying an additional 682 shares during the last quarter. State Board of Administration of Florida Retirement System raised its stake in Global Medical REIT by 5.5% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 14,818 shares of the company’s stock valued at $263,000 after buying an additional 766 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Global Medical REIT by 6.5% during the first quarter. Teacher Retirement System of Texas now owns 12,617 shares of the company’s stock valued at $206,000 after buying an additional 775 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in Global Medical REIT by 7.9% during the fourth quarter. First Trust Advisors LP now owns 10,916 shares of the company’s stock valued at $194,000 after buying an additional 802 shares during the last quarter. 68.60% of the stock is owned by institutional investors and hedge funds.
About Global Medical REIT (Get Rating)
Global Medical REIT Inc is net-lease medical office REIT that acquires purpose-built specialized healthcare facilities and leases those facilities to strong healthcare systems and physician groups with leading market share.
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