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

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock acquired 500 shares of the company’s stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $36.38 per share, for a total transaction of $18,190.00. Following the completion of the purchase, the executive directly owned 2,000 shares in the company, valued at $72,760. This trade represents a 33.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, August 14th, Matthew Fitzsimmons Whitlock bought 500 shares of Global Medical REIT stock. The shares were acquired at an average cost of $37.21 per share, with a total value of $18,605.00.

Global Medical REIT Trading Down 0.3%

NYSE XRN opened at $36.27 on Wednesday. The stock has a market capitalization of $480.23 million, a P/E ratio of 9.75 and a beta of 1.09. The business has a 50 day simple moving average of $36.61 and a 200 day simple moving average of $35.84. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $39.93.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $3.95. The firm had revenue of $39.75 million for the quarter. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. Research analysts expect that Global Medical REIT Inc. will post 2.89 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 5.3%. Global Medical REIT’s payout ratio is currently 51.61%.

Analyst Upgrades and Downgrades

XRN has been the subject of a number of research reports. BMO Capital Markets raised their price target on shares of Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Compass Point reiterated a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Zacks Research raised shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Citizens Jmp raised their target price on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $40.25.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently modified their holdings of the company. Marshall Wace LLP increased its stake in Global Medical REIT by 0.8% during the 4th quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock valued at $1,290,000 after purchasing an additional 308 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Global Medical REIT by 7.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock valued at $163,000 after buying an additional 332 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock valued at $48,000 after buying an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its holdings in shares of Global Medical REIT by 1,001.4% during the third 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 during the last quarter. Finally, Virtus Advisers LLC grew its holdings in shares of Global Medical REIT by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after buying an additional 768 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors.

About Global Medical REIT

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.