Global Medical REIT (NYSE:XRN) CEO Purchases $19,800.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. purchased 550 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average cost of $36.00 per share, for a total transaction of $19,800.00. Following the completion of the transaction, the chief executive officer directly owned 68,324 shares of the company’s stock, valued at $2,459,664. This trade represents a 0.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link.

Global Medical REIT Stock Performance

Shares of XRN opened at $36.43 on Thursday. The company’s 50 day moving average price is $36.57 and its 200 day moving average price is $35.79. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $39.93. The company has a market capitalization of $482.33 million, a PE ratio of 9.79 and a beta of 1.09. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $39.75 million for the quarter. Research analysts expect that Global Medical REIT Inc. will post 3.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on XRN shares. Citizens Jmp lifted their price objective on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, May 26th. Zacks Research upgraded Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings downgraded Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 30th. BMO Capital Markets boosted their price target on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Compass Point reiterated a “neutral” rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.25.

Institutional Trading of Global Medical REIT

Institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its stake in 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 purchasing an additional 5,062 shares in the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Global Medical REIT by 23,920.0% in the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after buying an additional 23,920 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Global Medical REIT by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after buying an additional 45,243 shares during the period. Strs Ohio bought a new stake in shares of Global Medical REIT in the 1st quarter valued at $95,000. Finally, Envestnet Asset Management Inc. increased its position 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 buying an additional 7,536 shares in the last quarter. 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.