Global Medical REIT Inc. (NYSE:XRN) Receives Average Rating of “Hold” from Analysts

Global Medical REIT Inc. (NYSE:XRN) has been given an average recommendation of “Hold” by the seven research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $40.00.

XRN has been the topic of a number of analyst reports. Citizens Jmp lifted their price objective on shares of Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 26th. Compass Point reissued a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. BMO Capital Markets upped their price target on Global Medical REIT from $33.00 to $39.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 5,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average price of $33.94 per share, with a total value of $169,700.00. Following the completion of the acquisition, the chief executive officer owned 59,774 shares in the company, valued at $2,028,729.56. The trade was a 9.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Jamie Allen Barber purchased 1,481 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $33.50 per share, for a total transaction of $49,613.50. Following the purchase, the general counsel directly owned 1,481 shares of the company’s stock, valued at approximately $49,613.50. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 10,974 shares of company stock valued at $373,826 in the last 90 days. 8.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Heartland Advisors Inc. purchased a new position in shares of Global Medical REIT in the third quarter worth $5,147,000. Pensionfund PDN purchased a new stake in shares of Global Medical REIT during the fourth quarter valued at $837,000. Fifth Third Bancorp purchased a new stake in shares of Global Medical REIT during the third quarter valued at $35,000. Greenland Capital Management LP acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $285,000. Finally, Versor Investments LP acquired a new position in shares of Global Medical REIT in the 3rd quarter valued at $286,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $36.99 on Wednesday. The company has a market capitalization of $489.38 million, a PE ratio of -33.32 and a beta of 1.11. The company has a 50-day simple moving average of $35.11 and a two-hundred day simple moving average of $35.01. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68.

Global Medical REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 5.2%. Global Medical REIT’s dividend payout ratio (DPR) is -270.27%.

Global Medical REIT Company Profile

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.