Matthew Fitzsimmons Whitlock Buys 500 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of Global Medical REIT stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $37.21 per share, for a total transaction of $18,605.00. Following the completion of the transaction, the executive owned 1,500 shares in the company, valued at approximately $55,815. The trade was a 50.00% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Monday, August 17th, Matthew Fitzsimmons Whitlock purchased 500 shares of Global Medical REIT stock. The stock was acquired at an average cost of $36.38 per share, with a total value of $18,190.00.

Global Medical REIT Stock Performance

XRN traded down $0.65 on Monday, hitting $36.46. 74,731 shares of the company’s stock were exchanged, compared to its average volume of 120,286. The firm has a market cap of $482.66 million, a PE ratio of 9.80 and a beta of 1.09. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. The stock has a fifty day moving average of $36.62 and a two-hundred day moving average of $35.82. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37.

Global Medical REIT (NYSE:XRN) last issued its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. The firm 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 13.31%. On average, research analysts anticipate that Global Medical REIT Inc. will post 2.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on XRN shares. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday. Compass Point restated a “neutral” rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Zacks Research raised shares of Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Raymond James Financial initiated coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.25.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position 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 valued at $27,000 after buying an additional 721 shares in the last quarter. Fifth Third Bancorp raised its holdings in Global Medical REIT by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after purchasing an additional 370 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Global Medical REIT in the second quarter worth approximately $78,000. Finally, Virtus Advisers LLC lifted its position in 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 purchasing an additional 768 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.