Global Medical REIT Inc (NASDAQ:GMRE) – Research analysts at DA Davidson dropped their FY2017 earnings per share estimates for shares of Global Medical REIT in a research note issued on Thursday. DA Davidson analyst B. Oxford now forecasts that the company will post earnings of $0.31 per share for the year, down from their previous estimate of $0.32. DA Davidson has a “Neutral” rating and a $10.00 price target on the stock. DA Davidson also issued estimates for Global Medical REIT’s Q1 2018 earnings at $0.15 EPS and FY2018 earnings at $0.71 EPS.
Global Medical REIT (NASDAQ:GMRE) last announced its earnings results on Thursday, August 10th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.17). Global Medical REIT had a negative net margin of 8.39% and a negative return on equity of 1.53%. The company had revenue of $7.42 million for the quarter, compared to analysts’ expectations of $6.16 million. ILLEGAL ACTIVITY NOTICE: This report was reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/09/17/brokers-set-expectations-for-global-medical-reit-incs-fy2017-earnings-gmre.html.
A number of other equities research analysts have also recently commented on the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $12.00 price objective on shares of Global Medical REIT in a research note on Friday, September 1st. Zacks Investment Research cut Global Medical REIT from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. TheStreet raised Global Medical REIT from a “d” rating to a “c-” rating in a research note on Monday, July 10th. Finally, FBR & Co reaffirmed an “outperform” rating and set a $10.00 price objective on shares of Global Medical REIT in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Global Medical REIT has an average rating of “Buy” and an average target price of $10.50.
Shares of Global Medical REIT (GMRE) opened at 9.21 on Friday. The stock’s 50 day moving average price is $9.31 and its 200 day moving average price is $8.95. Global Medical REIT has a one year low of $6.73 and a one year high of $10.64.
Hedge funds have recently bought and sold shares of the business. Orinda Asset Management LLC lifted its holdings in Global Medical REIT by 100.0% during the second quarter. Orinda Asset Management LLC now owns 100,000 shares of the company’s stock worth $894,000 after acquiring an additional 50,000 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Global Medical REIT by 37.5% during the fourth quarter. Teachers Advisors LLC now owns 22,070 shares of the company’s stock worth $197,000 after acquiring an additional 6,018 shares in the last quarter. Wedbush Securities Inc. lifted its holdings in Global Medical REIT by 5.8% during the second quarter. Wedbush Securities Inc. now owns 15,334 shares of the company’s stock worth $137,000 after acquiring an additional 834 shares in the last quarter. Menta Capital LLC bought a new position in Global Medical REIT during the first quarter worth about $164,000. Finally, Spirit of America Management Corp NY lifted its holdings in Global Medical REIT by 50.0% during the second quarter. Spirit of America Management Corp NY now owns 15,000 shares of the company’s stock worth $134,000 after acquiring an additional 5,000 shares in the last quarter.
In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of Global Medical REIT stock in a transaction on Friday, June 30th. The shares were purchased at an average cost of $9.00 per share, for a total transaction of $99,900.00. Following the completion of the acquisition, the chairman now owns 20,110 shares in the company, valued at approximately $180,990. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, September 26th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, September 25th. This represents a $0.80 annualized dividend and a yield of 8.69%.
Global Medical REIT Company Profile
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