Global Medical REIT (NYSE:XRN) CEO Mark Okey Decker, Jr. Acquires 8,000 Shares

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. bought 8,000 shares of Global Medical REIT stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $35.88 per share, with a total value of $287,040.00. Following the acquisition, the chief executive officer directly owned 67,774 shares in the company, valued at approximately $2,431,731.12. This represents a 13.38% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Global Medical REIT Price Performance

XRN stock opened at $35.15 on Wednesday. The firm has a 50 day moving average of $36.54 and a 200-day moving average of $35.79. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $464.97 million, a P/E ratio of 9.45 and a beta of 1.09. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $3.95. The firm had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.74%. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 3.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

XRN has been the topic of several research analyst reports. Citizens Jmp upped 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. Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Compass Point reiterated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $40.25.

Institutional Trading of Global Medical REIT

Several institutional investors have recently added to or reduced their stakes in XRN. Heartland Advisors Inc. grew its stake in shares of Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after buying an additional 270,786 shares during the last quarter. Virtus Advisers LLC increased its stake in Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after purchasing an additional 768 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Global Medical REIT by 11.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after purchasing an additional 2,000 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Global Medical REIT in the fourth quarter valued at approximately $92,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Global Medical REIT by 1,001.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after purchasing an additional 721 shares during the period. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.