Global Medical REIT Inc. (NYSE:XRN) Receives $40.25 Average PT from Analysts

Global Medical REIT Inc. (NYSE:XRN) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the company, MarketBeat reports. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.25.

Several brokerages have recently weighed in on XRN. 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. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Raymond James Financial began coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating for the company. Zacks Research upgraded Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Global Medical REIT Stock Up 0.2%

Global Medical REIT stock opened at $36.89 on Monday. The company has a market cap of $488.42 million, a P/E ratio of 9.92 and a beta of 1.09. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93. The company has a fifty day simple moving average of $36.77 and a 200 day simple moving average of $35.93. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37.

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. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The firm had revenue of $39.75 million for the quarter. Research analysts anticipate that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

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 issued a $0.16 dividend. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio is presently 51.61%.

Insider Activity at Global Medical REIT

In other news, COO Aaron Robert Roseth purchased 13,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were purchased at an average cost of $36.73 per share, with a total value of $495,855.00. Following the completion of the transaction, the chief operating officer owned 13,500 shares of the company’s stock, valued at $495,855. The trade was a ? increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles Fitzgerald purchased 27,600 shares of the business’s stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $35.94 per share, with a total value of $991,944.00. Following the purchase, the director owned 124,893 shares of the company’s stock, valued at approximately $4,488,654.42. The trade was a 28.37% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP increased its stake in shares of Global Medical REIT by 0.8% during the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock worth $1,290,000 after purchasing an additional 308 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Global Medical REIT by 7.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock worth $163,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp boosted its stake in Global Medical REIT by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock valued at $48,000 after purchasing an additional 370 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Global Medical REIT by 1,001.4% in the 3rd 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 period. Finally, Virtus Advisers LLC grew its holdings in Global Medical REIT by 46.5% in 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. 57.52% of the stock is owned by institutional investors.

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.