Global Medical REIT (NYSE:XRN) General Counsel Purchases $49,613.50 in Stock

Global Medical REIT Inc. (NYSE:XRN) General Counsel Jamie Allen Barber bought 1,481 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $33.50 per share, for a total transaction of $49,613.50. Following the completion of the acquisition, the general counsel directly owned 1,481 shares of the company’s stock, valued at $49,613.50. This trade represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Global Medical REIT Stock Performance

Shares of NYSE:XRN traded up $0.24 on Wednesday, reaching $34.35. 275,987 shares of the company’s stock were exchanged, compared to its average volume of 167,518. The firm has a market capitalization of $454.38 million, a price-to-earnings ratio of -30.94 and a beta of 1.11. Global Medical REIT Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $39.93. The business’s 50-day moving average is $35.01 and its two-hundred day moving average is $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 Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on XRN. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings cut shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, Compass Point reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Global Medical REIT currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Trading of Global Medical REIT

A number of large investors have recently modified their holdings of XRN. Invesco Ltd. increased its holdings in shares of Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after acquiring an additional 355,355 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Global Medical REIT in the 3rd quarter worth about $9,997,000. Marshall Wace LLP increased its holdings in shares of Global Medical REIT by 2,208.2% in the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after acquiring an additional 279,070 shares during the period. Heartland Advisors Inc. increased its holdings in shares of Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after acquiring an additional 270,786 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Global Medical REIT in the 3rd quarter worth about $7,798,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.