Global Medical REIT (NYSE:XRN) Director Charles Fitzgerald Buys 27,600 Shares

Global Medical REIT Inc. (NYSE:XRN) Director Charles Fitzgerald purchased 27,600 shares of the stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $35.94 per share, with a total value of $991,944.00. Following the acquisition, the director directly owned 124,893 shares in the company, valued at $4,488,654.42. This represents a 28.37% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Global Medical REIT Price Performance

XRN stock opened at $36.43 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.68. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. The business has a 50 day simple moving average of $36.57 and a 200-day simple moving average of $35.79. The company has a market capitalization of $482.33 million, a P/E ratio of 9.79 and a beta of 1.09.

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, topping analysts’ consensus estimates of $0.83 by $3.95. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.74%. The business had revenue of $39.75 million for the quarter. As a group, equities analysts anticipate that Global Medical REIT Inc. will post 3.06 EPS for the current year.

Hedge Funds Weigh In On Global Medical REIT

A number of large investors have recently made changes to their positions in the business. Invesco Ltd. raised its holdings in shares of Global Medical REIT by 4.2% during the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock valued at $10,474,000 after purchasing an additional 12,471 shares in the last quarter. Mackenzie Financial Corp bought a new position in Global Medical REIT during the 4th quarter valued at about $563,000. XTX Topco Ltd bought a new position in Global Medical REIT in the 4th quarter valued at $515,000. Tudor Investment Corp ET AL acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $930,000. Finally, Clifford Capital Partners LLC lifted its position in Global Medical REIT by 31.3% during the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock valued at $496,000 after purchasing an additional 3,504 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on XRN. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Compass Point reissued a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Citizens Jmp boosted their price target on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 26th. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus 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.