Global Medical REIT (NYSE:XRN) CIO Acquires $18,605.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock bought 500 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $37.21 per share, with a total value of $18,605.00. Following the purchase, the executive directly owned 1,500 shares of the company’s stock, valued at approximately $55,815. This represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Monday, August 17th, Matthew Fitzsimmons Whitlock bought 500 shares of Global Medical REIT stock. The shares were purchased at an average cost of $36.38 per share, for a total transaction of $18,190.00.

Global Medical REIT Price Performance

NYSE XRN traded down $0.65 on Monday, reaching $36.46. The company’s stock had a trading volume of 74,731 shares, compared to its average volume of 120,286. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. 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 stock has a market cap of $482.66 million, a PE ratio of 9.80 and a beta of 1.09. The firm’s 50 day moving average is $36.62 and its two-hundred day moving average is $35.82.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating the consensus estimate of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 2.89 EPS for the current year.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. raised its position in Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after buying an additional 355,355 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Global Medical REIT by 8.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock worth $10,499,000 after buying an additional 119,538 shares in the last quarter. Man Group plc boosted its stake in shares of Global Medical REIT by 1.7% during the 2nd quarter. Man Group plc now owns 600,943 shares of the company’s stock valued at $4,165,000 after buying an additional 10,192 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Global Medical REIT by 177.4% during the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after buying an additional 270,786 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after acquiring an additional 45,243 shares in the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

XRN has been the topic of several recent research reports. Citizens Jmp lifted their price target on shares of Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 26th. Compass Point reissued a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note 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. BMO Capital Markets upped their target price on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Global Medical REIT currently has an average rating of “Hold” and a consensus price target of $40.25.

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.