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

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average recommendation of “Hold” from the eight analysts that are presently covering the stock, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $40.25.

Several equities research analysts recently commented on the company. Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, July 6th. Citizens Jmp boosted their target price 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. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Raymond James Financial started coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating for the company.

Insider Activity

In other news, Director Paula Crowley purchased 1,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average cost of $34.00 per share, for a total transaction of $34,000.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $34,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Danica Holley purchased 1,490 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $33.99 per share, for a total transaction of $50,645.10. Following the completion of the transaction, the chief operating officer owned 1,590 shares of the company’s stock, valued at $54,044.10. The trade was a 1,490.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have purchased 10,974 shares of company stock valued at $373,826. Insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in shares of Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after acquiring an additional 5,062 shares during the period. Jones Financial Companies Lllp increased its position in Global Medical REIT by 23,920.0% during the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock worth $210,000 after acquiring an additional 23,920 shares during the period. Goldman Sachs Group Inc. raised 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 purchasing an additional 45,243 shares during the last quarter. Strs Ohio bought a new stake in Global Medical REIT in the 1st quarter valued at $95,000. Finally, Envestnet Asset Management Inc. grew its position in Global Medical REIT by 39.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock worth $184,000 after purchasing an additional 7,536 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Global Medical REIT Stock Performance

Shares of XRN stock opened at $36.94 on Thursday. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $39.93. The stock’s 50-day moving average is $36.75 and its two-hundred day moving average is $35.80. 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 firm has a market cap of $488.90 million, a P/E ratio of -33.28 and a beta of 1.10.

Global Medical REIT Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.16 per share. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s dividend payout ratio is -172.97%.

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.