Global Medical REIT Inc. (NYSE:XRN) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Global Medical REIT Inc. (NYSE:XRN) have been assigned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $40.17.

A number of brokerages have recently weighed in on XRN. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Cantor Fitzgerald initiated coverage on shares of Global Medical REIT in a report on Monday, September 21st. They issued an “overweight” rating and a $43.00 target price for the company. BMO Capital Markets upped their target price on shares of Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Huntington began coverage on Global Medical REIT in a report on Wednesday. They issued a “hold” rating on the stock. Finally, Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th.

Insider Transactions at Global Medical REIT

In related news, Director Charles Fitzgerald purchased 27,600 shares of the business’s stock in a transaction on Monday, August 10th. The shares were bought at an average cost of $35.94 per share, with a total value of $991,944.00. Following the transaction, the director owned 124,893 shares of the company’s stock, valued at approximately $4,488,654.42. This trade represents a 28.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aaron Roseth purchased 13,500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were purchased at an average price of $36.73 per share, with a total value of $495,855.00. Following the completion of the transaction, the chief operating officer owned 13,500 shares of the company’s stock, valued at approximately $495,855. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have bought 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is currently owned by corporate insiders.

Global Medical REIT Stock Performance

NYSE:XRN opened at $28.82 on Friday. Global Medical REIT has a twelve month low of $28.09 and a twelve month high of $38.65. The firm has a 50-day moving average price of $33.58 and a two-hundred day moving average price of $35.30. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. The company has a market capitalization of $381.64 million, a P/E ratio of 8.24 and a beta of 1.10.

Global Medical REIT (NYSE:XRN) last issued its earnings results on Wednesday, November 4th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($1.22). Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. The business had revenue of $40.34 million during the quarter. As a group, research analysts expect that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.16 per share. This represents a $1.92 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio is presently 51.61%.

Global Medical REIT Company Profile

Global Medical REIT, Inc is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers.

Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.