Global Medical REIT Inc (NASDAQ:GMRE) – Investment analysts at DA Davidson lowered their Q3 2017 earnings estimates for Global Medical REIT in a research note issued on Monday. DA Davidson analyst B. Oxford now anticipates that the company will post earnings per share of $0.13 for the quarter, down from their prior estimate of $0.14. DA Davidson also issued estimates for Global Medical REIT’s Q4 2017 earnings at $0.14 EPS, FY2017 earnings at $0.32 EPS, Q1 2018 earnings at $0.16 EPS, Q2 2018 earnings at $0.17 EPS, Q3 2018 earnings at $0.19 EPS, Q4 2018 earnings at $0.20 EPS and FY2018 earnings at $0.72 EPS.

Global Medical REIT (NASDAQ:GMRE) last released its quarterly earnings data on Thursday, August 10th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by $0.17. Global Medical REIT had a negative return on equity of 6.70% and a negative net margin of 54.55%. The business had revenue of $7.42 million for the quarter, compared to analyst estimates of $6.16 million.

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Several other analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Global Medical REIT from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet upgraded shares of Global Medical REIT from a “d” rating to a “c-” rating in a report on Monday, July 10th. Finally, FBR & Co restated an “outperform” rating and set a $10.00 target price on shares of Global Medical REIT in a report on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Global Medical REIT has a consensus rating of “Buy” and a consensus target price of $10.67.

Global Medical REIT (NASDAQ:GMRE) opened at 9.18 on Wednesday. The firm’s 50-day moving average is $9.09 and its 200 day moving average is $9.05. Global Medical REIT has a 12-month low of $6.73 and a 12-month high of $11.24.

Several hedge funds have recently made changes to their positions in the stock. Manning & Napier Advisors LLC boosted its stake in shares of Global Medical REIT by 17.3% in the second quarter. Manning & Napier Advisors LLC now owns 609,735 shares of the company’s stock worth $5,449,000 after buying an additional 89,975 shares during the period. Vanguard Group Inc. boosted its stake in shares of Global Medical REIT by 0.8% in the second quarter. Vanguard Group Inc. now owns 521,977 shares of the company’s stock worth $4,667,000 after buying an additional 4,044 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of Global Medical REIT by 20.0% in the second quarter. State of Wisconsin Investment Board now owns 433,050 shares of the company’s stock worth $3,871,000 after buying an additional 72,100 shares during the period. Rational Advisors LLC boosted its stake in shares of Global Medical REIT by 1.4% in the second quarter. Rational Advisors LLC now owns 270,816 shares of the company’s stock worth $2,421,000 after buying an additional 3,716 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in shares of Global Medical REIT by 303.0% in the second quarter. Neuberger Berman Group LLC now owns 266,815 shares of the company’s stock worth $2,385,000 after buying an additional 200,606 shares during the period.

In other Global Medical REIT news, Chairman Jeffrey Busch bought 11,100 shares of the company’s stock in a transaction dated Friday, June 30th. The shares were purchased at an average price of $9.00 per share, for a total transaction of $99,900.00. Following the acquisition, the chairman now owns 20,110 shares in the company, valued at approximately $180,990. The purchase was disclosed in a filing with the SEC, which is available at this link.

About Global Medical REIT

Global Medical REIT Inc focuses on operating as a real estate investment trust. The Company is engaged primarily in the acquisition and leasing of licensed purpose-built healthcare facilities in certain markets with various clinical operators. The Company seeks to invest in these purpose-built, specialized facilities, such as surgery centers, specialty hospitals and outpatient treatment centers.

Earnings History and Estimates for Global Medical REIT (NASDAQ:GMRE)

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