Global Medical REIT (NYSE:XRN) Research Coverage Started at Huntington

Huntington initiated coverage on shares of Global Medical REIT (NYSE:XRN) in a research report report published on Wednesday,Zacks reports. The firm issued a hold rating on the stock.

Other analysts have also issued research reports about the stock. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. BMO Capital Markets boosted their price target on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Cantor Fitzgerald began 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 on the stock. Finally, Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $40.17.

Global Medical REIT Stock Performance

Shares of XRN opened at $28.82 on Wednesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. Global Medical REIT has a 1 year low of $28.09 and a 1 year high of $38.65. The company has a market capitalization of $381.64 million, a price-to-earnings ratio of 8.24 and a beta of 1.10. The company’s 50 day simple moving average is $33.58 and its 200 day simple moving average is $35.30.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $40.34 million for the quarter. On average, sell-side analysts predict that Global Medical REIT will post 2.89 EPS for the current year.

Global Medical REIT Announces Dividend

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

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. acquired 6,875 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $35.92 per share, with a total value of $246,950.00. Following the acquisition, the chief executive officer directly owned 75,199 shares in the company, valued at approximately $2,701,148.08. The trade was a 10.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed 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 bought at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the completion of the acquisition, the chief operating officer owned 13,500 shares in the company, valued at $495,855. This represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 71,525 shares of company stock worth $2,579,304 over the last ninety days. Corporate insiders own 8.90% of the company’s stock.

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.