Global Medical REIT Inc. (NYSE:XRN) Given Average Rating of “Moderate Buy” by Analysts

Shares of Global Medical REIT Inc. (NYSE:XRN) have been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have commented on XRN shares. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Raymond James Financial began coverage on shares of Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. Compass Point restated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. BMO Capital Markets lifted their price objective on Global Medical REIT from $33.00 to $39.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Finally, Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 6th.

Insiders Place Their Bets

In other Global Medical REIT news, Director Matthew Cypher bought 1,420 shares of Global Medical REIT stock in a transaction dated Thursday, May 14th. The shares were purchased at an average cost of $35.12 per share, with a total value of $49,870.40. Following the transaction, the director directly owned 1,690 shares of the company’s stock, valued at $59,352.80. This represents a 525.93% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paula Crowley purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $34.00 per share, with a total value of $34,000.00. Following the completion of the purchase, the director owned 1,000 shares in the company, valued at $34,000. This represents a ? increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have purchased 10,974 shares of company stock valued at $373,826 in the last 90 days. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

Hedge funds and other institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted 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 purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of Global Medical REIT by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after buying an additional 370 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after buying an additional 3,046 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Global Medical REIT during the 2nd quarter valued at approximately $78,000. Finally, Virtus Advisers LLC increased its position in Global Medical REIT by 46.5% during the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after buying an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Trading Down 0.3%

NYSE:XRN traded down $0.10 during trading hours on Friday, hitting $36.30. The company had a trading volume of 44,920 shares, compared to its average volume of 106,132. The company has a market capitalization of $480.46 million, a PE ratio of -32.70 and a beta of 1.10. The stock has a 50-day moving average price of $35.98 and a 200 day moving average price of $35.48. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $39.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68.

Global Medical REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be paid a $0.16 dividend. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio is presently -172.97%.

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.