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.

(A d)

These are the Penny Stock patterns that every trader should be able to spot. Two of them were responsible for my biggest winners.

Click here to get your free copy now.

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.

Recommended Stories

Get a Free Copy of Zacks Research Report on Global Medical REIT (GMRE)

For more information on Zacks Investment Research’s research offerings, visit

Earnings history and estimates for Global Medical REIT (NYSE:GMRE)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Global Medical REIT right now?

Before you consider Global Medical REIT, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Global Medical REIT was not on the list.

While Global Medical REIT currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Comments are closed.