Global Medical REIT (NYSE:GMRE) – Stock analysts at B. Riley dropped their Q2 2018 earnings per share estimates for shares of Global Medical REIT in a research report issued on Thursday, May 10th, according to Zacks Investment Research. B. Riley analyst B. Maher now forecasts that the company will post earnings per share of $0.20 for the quarter, down from their prior forecast of $0.21. B. Riley currently has a “Buy” rating and a $10.00 price objective on the stock. B. Riley also issued estimates for Global Medical REIT’s FY2018 earnings at $0.82 EPS.
A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Global Medical REIT from a “buy” rating to a “sell” rating in a report on Friday, May 11th. DA Davidson upgraded Global Medical REIT from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a report on Wednesday, March 28th. Cantor Fitzgerald assumed coverage on Global Medical REIT in a report on Wednesday, March 7th. They set a “buy” rating and a $12.00 price target on the stock. Finally, TheStreet downgraded Global Medical REIT from a “c-” rating to a “d” rating in a report on Thursday, February 1st. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $10.05.
Shares of NYSE GMRE opened at $8.56 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.17 and a current ratio of 0.17. The firm has a market capitalization of $186.46 million, a P/E ratio of 13.47, a P/E/G ratio of 1.18 and a beta of 0.34. Global Medical REIT has a 52-week low of $6.34 and a 52-week high of $10.25.
Global Medical REIT (NYSE:GMRE) last issued its earnings results on Tuesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.02). The company had revenue of $11.56 million during the quarter, compared to analyst estimates of $11.50 million. Global Medical REIT had a return on equity of 1.61% and a net margin of 7.75%.
In other Global Medical REIT news, Chairman Jeffrey Busch purchased 6,000 shares of the stock in a transaction dated Tuesday, March 13th. The shares were acquired at an average price of $7.13 per share, for a total transaction of $42,780.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Global Medical REIT by 4.3% during the first quarter. BlackRock Inc. now owns 867,332 shares of the company’s stock valued at $6,027,000 after purchasing an additional 35,430 shares during the last quarter. Pacific Ridge Capital Partners LLC acquired a new stake in Global Medical REIT during the fourth quarter valued at $3,266,000. Goldman Sachs Group Inc. boosted its position in Global Medical REIT by 378.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 384,657 shares of the company’s stock valued at $3,154,000 after purchasing an additional 304,286 shares during the last quarter. RMR Advisors LLC boosted its position in Global Medical REIT by 169.0% during the fourth quarter. RMR Advisors LLC now owns 345,330 shares of the company’s stock valued at $2,832,000 after purchasing an additional 216,943 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Global Medical REIT by 370.7% during the first quarter. Millennium Management LLC now owns 229,150 shares of the company’s stock valued at $1,593,000 after purchasing an additional 180,465 shares during the last quarter. 38.87% of the stock is owned by hedge funds and other institutional investors.
Global Medical REIT Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Medical REIT Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Medical REIT and related companies with MarketBeat.com's FREE daily email newsletter.