Citizens Jmp Forecasts Strong Price Appreciation for Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT (NYSE:XRN) had its price objective upped by research analysts at Citizens Jmp from $40.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the stock. Citizens Jmp’s target price would indicate a potential upside of 11.02% from the company’s previous close.

Several other research firms have also weighed in on XRN. BMO Capital Markets upped their price objective on shares of Global Medical REIT from $33.00 to $39.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. 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 research note on Thursday, May 7th. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings downgraded Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Global Medical REIT presently has an average rating of “Hold” and an average target price of $40.00.

Global Medical REIT Price Performance

Shares of XRN opened at $37.83 on Tuesday. The business’s 50-day moving average is $34.96 and its 200-day moving average is $34.71. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market capitalization of $500.49 million, a price-to-earnings ratio of -34.08 and a beta of 1.11. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $39.93.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, Director Paula Crowley bought 1,000 shares of the stock in a transaction on Monday, May 11th. The shares were purchased at an average cost of $34.00 per share, with a total value of $34,000.00. Following the completion of the transaction, the director directly owned 1,000 shares of the company’s stock, valued at $34,000. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jamie Allen Barber bought 1,481 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $33.50 per share, for a total transaction of $49,613.50. Following the completion of the acquisition, the general counsel owned 1,481 shares of the company’s stock, valued at approximately $49,613.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 10,974 shares of company stock worth $373,826 in the last ninety days. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its holdings in Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new position in Global Medical REIT during the third quarter valued at approximately $35,000. Tower Research Capital LLC TRC raised its position in shares of Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. B. Riley Wealth Advisors Inc. bought a new position in shares of Global Medical REIT in the second quarter valued at approximately $78,000. Finally, Virtus Advisers LLC lifted its stake in shares of Global Medical REIT by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after buying an additional 768 shares during the last quarter. 57.52% of the stock is owned by 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.