Danica Holley Acquires 1,490 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) COO Danica Holley acquired 1,490 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $33.99 per share, with a total value of $50,645.10. Following the transaction, the chief operating officer directly owned 1,590 shares of the company’s stock, valued at $54,044.10. This represents a 1,490.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Global Medical REIT Stock Up 0.7%

Shares of XRN stock opened at $34.35 on Thursday. The firm has a fifty day moving average of $35.01 and a 200-day moving average of $34.46. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93. The company has a market capitalization of $454.56 million, a price-to-earnings ratio of -30.94 and a beta of 1.11.

Global Medical REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be issued a dividend of $0.16 per share. The ex-dividend date is Thursday, August 20th. This represents a c) annualized dividend and a yield of 5.6%. Global Medical REIT’s dividend payout ratio is presently -270.27%.

Wall Street Analyst Weigh In

Several brokerages recently commented on XRN. Compass Point restated a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Weiss Ratings cut shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd lifted its stake in Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new stake in Global Medical REIT in the third quarter valued at $35,000. New York State Teachers Retirement System acquired a new stake in Global Medical REIT in the third quarter valued at $39,000. Tower Research Capital LLC TRC lifted its stake in Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after acquiring an additional 3,046 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Global Medical REIT in the second quarter valued at $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.