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

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $42.00.

Separately, Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st.

Global Medical REIT Trading Up 0.2%

Shares of Global Medical REIT stock opened at $33.23 on Friday. The firm has a market capitalization of $439.63 million, a PE ratio of -36.92 and a beta of 1.16. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. The company’s fifty day moving average price is $35.81 and its two-hundred day moving average price is $34.38. Global Medical REIT has a 52-week low of $29.05 and a 52-week high of $44.40.

Global Medical REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Shareholders of record on Wednesday, May 20th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 20th. This represents a c) dividend on an annualized basis and a yield of 9.0%. Global Medical REIT’s dividend payout ratio (DPR) is currently -333.33%.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors have recently added to or reduced their stakes in XRN. Caitong International Asset Management Co. Ltd grew its stake in shares of 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. Fifth Third Bancorp bought a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new stake in Global Medical REIT in the 3rd quarter valued at $39,000. Tower Research Capital LLC TRC grew its position in Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after acquiring an additional 3,046 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Global Medical REIT in the second quarter valued at $78,000. 57.52% of the stock is owned by institutional investors and hedge funds.

About Global Medical REIT

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.