Heartland Advisors Inc. Buys 270,786 Shares of Global Medical REIT Inc. $XRN

Heartland Advisors Inc. raised its stake in shares of Global Medical REIT Inc. (NYSE:XRN) by 177.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 423,460 shares of the company’s stock after acquiring an additional 270,786 shares during the quarter. Heartland Advisors Inc.’s holdings in Global Medical REIT were worth $14,288,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in XRN. AQR Capital Management LLC lifted its holdings in shares of Global Medical REIT by 9.5% during the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after acquiring an additional 5,062 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of Global Medical REIT by 23,920.0% in the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after buying an additional 23,920 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after buying an additional 45,243 shares during the last quarter. Strs Ohio bought a new position in shares of Global Medical REIT in the first quarter valued at about $95,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Global Medical REIT by 39.5% in the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after buying an additional 7,536 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings cut Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Compass Point reaffirmed a “neutral” rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. BMO Capital Markets lifted their price target on Global Medical REIT from $33.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Finally, Citizens Jmp lifted their price target on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Global Medical REIT has a consensus rating of “Hold” and a consensus price target of $40.00.

Insider Transactions at Global Medical REIT

In other news, Director Paula Crowley acquired 1,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average cost of $34.00 per share, for a total transaction of $34,000.00. Following the completion of the transaction, the director directly owned 1,000 shares in the company, valued at $34,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Okey Decker, Jr. acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $33.94 per share, with a total value of $169,700.00. Following the completion of the transaction, the chief executive officer owned 59,774 shares of the company’s stock, valued at approximately $2,028,729.56. This trade represents a 9.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 10,974 shares of company stock valued at $373,826. 8.90% of the stock is currently owned by insiders.

Global Medical REIT Price Performance

Shares of XRN stock opened at $37.10 on Thursday. The stock has a 50-day moving average price of $35.19 and a 200 day moving average price of $35.05. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a market cap of $491.04 million, a price-to-earnings ratio of -33.43 and a beta of 1.11. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93.

Global Medical REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be given a $0.16 dividend. This represents a c) dividend on an annualized basis and a yield of 5.2%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -172.97%.

Global Medical REIT 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.