Global Medical REIT Inc. (NYSE:XRN) Stock Rated “Hold” by Sell-Side Brokerages

Shares of Global Medical REIT Inc. (NYSE:XRN) have been assigned an average recommendation of “Hold” from the nine analysts that are covering the stock, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $40.17.

A number of analysts have weighed in on XRN shares. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Zacks Research upgraded Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Huntington began coverage on shares of Global Medical REIT in a research note on Thursday, September 10th. They set a “market perform” rating and a $37.00 target price for the company. Finally, BMO Capital Markets upped 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.

Global Medical REIT Trading Down 3.5%

Shares of NYSE XRN opened at $30.25 on Tuesday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. The business’s 50 day moving average price is $35.65 and its 200-day moving average price is $35.76. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $38.65. The company has a market cap of $400.44 million, a price-to-earnings ratio of 8.13 and a beta of 1.12.

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, topping analysts’ consensus estimates of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. The firm had revenue of $39.75 million during the quarter. On average, sell-side analysts expect that Global Medical REIT will post 2.89 earnings per share for the current year.

Global Medical REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be paid a $0.16 dividend. This represents a $1.92 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio (DPR) is currently 51.61%.

Insider Activity at Global Medical REIT

In related news, COO Aaron Roseth acquired 13,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The stock was bought at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the acquisition, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at $495,855. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles Fitzgerald acquired 14,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was bought at an average cost of $35.78 per share, with a total value of $500,920.00. Following the completion of the transaction, the director owned 138,893 shares in the company, valued at $4,969,591.54. This trade represents a 11.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 71,525 shares of company stock worth $2,579,304 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Medical REIT

An institutional investor recently raised its stake in Global Medical REIT stock. Clifford Capital Partners LLC grew its stake in shares of Global Medical REIT Inc. (NYSE:XRN) by 31.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,694 shares of the company’s stock after acquiring an additional 3,504 shares during the period. Clifford Capital Partners LLC owned about 0.11% of Global Medical REIT worth $496,000 at the end of the most recent quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

About Global Medical REIT

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.