Global Medical REIT (NYSE:XRN) Stock Rating Upgraded by Zacks Research

Global Medical REIT (NYSE:XRN) was upgraded by Zacks Research to a “hold” rating in a report released on Wednesday,Zacks.com reports.

XRN has been the subject of several other research reports. Raymond James Financial began coverage on shares of Global Medical REIT in a research report on Wednesday, June 17th. They issued a “market perform” rating for the company. 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 report on Thursday, May 7th. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Citizens Jmp boosted their price objective on shares of 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. Finally, BMO Capital Markets upped their target price on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.25.

Global Medical REIT Stock Up 0.5%

Shares of Global Medical REIT stock opened at $37.31 on Wednesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $493.84 million, a price-to-earnings ratio of -33.62 and a beta of 1.10. The firm’s 50-day moving average is $36.53 and its two-hundred day moving average is $35.73. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $39.93.

Insider Buying and Selling

In other news, COO Danica Holley purchased 1,490 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $33.99 per share, with a total value of $50,645.10. Following the transaction, the chief operating officer owned 1,590 shares in the company, valued at $54,044.10. The trade was a 1,490.00% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Cypher purchased 1,420 shares of the stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $35.12 per share, with a total value of $49,870.40. Following the transaction, the director owned 1,690 shares in the company, valued at $59,352.80. This trade represents a 525.93% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 10,974 shares of company stock worth $373,826 over the last three months. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Global Medical REIT by 9.5% in the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after buying an additional 5,062 shares during the period. Jones Financial Companies Lllp lifted its stake in Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after acquiring an additional 23,920 shares during the period. Goldman Sachs Group Inc. lifted its stake in 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 during the period. Strs Ohio purchased a new stake in shares of Global Medical REIT in the 1st quarter valued at $95,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Global Medical REIT by 39.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after acquiring an additional 7,536 shares during the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.