Zacks: Brokerages expect Global Medical REIT Inc. (NYSE:GMRE) to post quarterly sales of $30.06 million
Wall Street brokers expect Global Medical REIT Inc. (NYSE:GMRE) to report sales of $30.06 million for the current quarter, according to Zacks. Three analysts have released earnings estimates for Global Medical REIT, with the highest sales estimate at $30.50 million and the lowest estimate at $29.78 million. Global Medical REIT reported sales of $24.93 million in the same quarter last year, suggesting a positive year-over-year growth rate of 20.6%. The company is expected to release its next quarterly results after the market closes on Monday, February 28.
On average, analysts expect Global Medical REIT to report annual revenue of $115.62 million for the current fiscal year, with estimates ranging from $115.28 million to $116.10 millions of dollars. For the next fiscal year, analysts expect the company to post sales of $128.03 million, with estimates ranging from $119.76 million to $139.24 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts who cover Global Medical REIT.
Separately, Zacks Investment Research moved shares of Global Medical REIT from a “strong sell” rating to a “hold” rating in a Tuesday, Feb. 8 research report. One investment analyst has assigned the stock a hold rating and four have assigned the stock a buy rating. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $17.20.
Hedge funds have recently changed their positions in the business. Brown Advisory Inc. purchased a new stock position in Global Medical REIT during Q4 for a value of approximately $19,389,000. Adelante Capital Management LLC purchased a new position in Global Medical REIT during Q2 at a value of $10,849,000. State Street Corp increased its position in shares of Global Medical REIT by 64.3% in the second quarter. State Street Corp now owns 1,581,093 shares of the company worth $23,649,000 after purchasing an additional 619,012 shares during the period. Allspring Global Investments Holdings LLC purchased a new stock position in Global Medical REIT in the fourth quarter at a value of $10,448,000. Finally, GEM Realty Capital increased its position in Global Medical REIT by 110.4% in the third quarter. GEM Realty Capital now owns 694,669 shares of the company valued at $10,212,000 after acquiring an additional 364,466 shares in the last quarter. 70.85% of the shares are held by institutional investors.
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GMRE opened at $16.21 on Friday. The company has a fifty-day simple moving average of $16.92 and a 200-day simple moving average of $16.16. The company has a market capitalization of $1.04 billion, a price-earnings ratio of 108.07 and a beta of 0.83. Global Medical REIT has a 12-month low of $12.82 and a 12-month high of $18.51. The company has a current ratio of 0.17, a quick ratio of 0.17 and a debt ratio of 0.90.
The company also recently declared a quarterly dividend, which was paid on Monday, January 10. Investors of record on Monday, December 27 received a dividend of $0.205 per share. The ex-dividend date was Thursday, December 23. This represents an annualized dividend of $0.82 and a yield of 5.06%. The dividend payout ratio (DPR) of Global Medical REIT is 546.70%.
Global Medical REIT Company Profile
Global Medical REIT, Inc engages in the acquisition of purpose-built healthcare facilities and the leasing of these properties to strong healthcare systems and physician groups. The company was founded on March 18, 2011 and is based in Bethesda, MD.
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