Insider Buying: Global Medical REIT (NYSE:XRN) Director Purchases 14,000 Shares

Global Medical REIT Inc. (NYSE:XRN) Director Charles Fitzgerald acquired 14,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average cost of $35.78 per share, with a total value of $500,920.00. Following the acquisition, the director directly owned 138,893 shares of the company’s stock, valued at $4,969,591.54. This trade represents a 11.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

Charles Fitzgerald also recently made the following trade(s):

• On Monday, August 10th, Charles Fitzgerald bought 27,600 shares of Global Medical REIT stock. The stock was purchased at an average cost of $35.94 per share, for a total transaction of $991,944.00.

Global Medical REIT Price Performance

NYSE XRN opened at $36.43 on Thursday. The company has a 50-day moving average price of $36.57 and a 200-day moving average price of $35.79. 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 capitalization of $482.33 million, a P/E ratio of 9.79 and a beta of 1.09. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $39.93.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping the consensus estimate of $0.83 by $3.95. The business had revenue of $39.75 million for the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.74%. Equities research analysts anticipate that Global Medical REIT Inc. will post 3.06 earnings per share for the current year.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its position in shares of Global Medical REIT by 4.2% during the fourth quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after purchasing an additional 12,471 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Global Medical REIT during the 4th quarter valued at about $563,000. XTX Topco Ltd purchased a new position in shares of Global Medical REIT during the fourth quarter valued at about $515,000. Tudor Investment Corp ET AL bought a new stake in Global Medical REIT in the 4th quarter worth approximately $930,000. Finally, Clifford Capital Partners LLC grew its stake in shares of Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after buying an additional 3,504 shares in the last quarter. 57.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on XRN shares. Raymond James Financial started coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. Compass Point restated a “neutral” rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Citizens Jmp raised their price objective on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 26th. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, BMO Capital Markets boosted their price objective on 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. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.25.

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.