Global Medical REIT Inc (GMRE) Expected to Post Quarterly Sales of $10.33 Million
Equities analysts expect that Global Medical REIT Inc (NYSE:GMRE) will report $10.33 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Global Medical REIT’s earnings, with the lowest sales estimate coming in at $10.24 million and the highest estimate coming in at $10.41 million. Global Medical REIT posted sales of $3.12 million in the same quarter last year, which suggests a positive year-over-year growth rate of 231.1%. The company is expected to announce its next quarterly earnings report on Monday, March 26th.
On average, analysts expect that Global Medical REIT will report full year sales of $10.33 million for the current fiscal year, with estimates ranging from $30.71 million to $30.88 million. For the next financial year, analysts expect that the company will report sales of $55.72 million per share, with estimates ranging from $54.26 million to $57.17 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Global Medical REIT.
Several equities research analysts have commented on GMRE shares. FBR & Co reaffirmed a “buy” rating and issued a $10.50 target price (up previously from $10.00) on shares of Global Medical REIT in a research note on Monday, September 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 target price on shares of Global Medical REIT in a research note on Friday, September 1st. B. Riley reaffirmed a “buy” rating and issued a $10.50 target price on shares of Global Medical REIT in a research note on Friday, November 10th. Finally, Zacks Investment Research raised shares of Global Medical REIT from a “sell” rating to a “hold” rating and set a $10.00 target price for the company in a research note on Tuesday, November 14th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $10.60.
Shares of Global Medical REIT (GMRE) opened at $8.19 on Thursday. Global Medical REIT has a 12 month low of $7.85 and a 12 month high of $10.25. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.22 and a current ratio of 0.22. The firm has a market cap of $177.16, a P/E ratio of 22.05, a P/E/G ratio of 2.78 and a beta of -48.01.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.77%. The ex-dividend date is Friday, December 22nd. Global Medical REIT’s dividend payout ratio is -400.00%.
About Global Medical REIT
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