Huntington Begins Coverage on Global Medical REIT (NYSE:XRN)

Equities research analysts at Huntington started coverage on shares of Global Medical REIT (NYSE:XRN) in a report issued on Wednesday, Zacks reports. The brokerage set a “hold” rating on the stock.

Several other research analysts also recently commented on the company. Weiss Ratings raised 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 note on Wednesday, July 22nd. Cantor Fitzgerald started coverage on Global Medical REIT in a research note on Monday, September 21st. They set an “overweight” rating and a $43.00 price objective for the company. BMO Capital Markets increased their target price 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. Finally, Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Two research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $40.17.

Global Medical REIT Price Performance

NYSE XRN opened at $29.88 on Wednesday. The company has a market capitalization of $395.64 million, a PE ratio of 8.54 and a beta of 1.10. 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 fifty day moving average is $33.74 and its 200 day moving average is $35.34. Global Medical REIT has a fifty-two week low of $28.09 and a fifty-two week high of $38.65.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings results on Wednesday, November 4th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($1.22). The company had revenue of $40.34 million for the quarter. Global Medical REIT had a net margin of 36.80% and a return on equity of 13.65%. Sell-side analysts predict that Global Medical REIT will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 8,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $35.88 per share, with a total value of $287,040.00. Following the completion of the acquisition, the chief executive officer directly owned 67,774 shares in the company, valued at $2,431,731.12. The trade was a 13.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Aaron Roseth acquired 13,500 shares of the stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the completion of the transaction, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at approximately $495,855. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 71,525 shares of company stock valued at $2,579,304. Company insiders own 8.90% of the company’s stock.

Global Medical REIT Company Profile

Global Medical REIT, Inc is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers.

Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.