Global Medical REIT Inc. (NYSE:XRN) Stock Now Rated “Hold” by Sell-Side Analysts

Shares of Global Medical REIT Inc. (NYSE:XRN) have been assigned an average recommendation of “Hold” from the nine brokerages that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $40.17.

Several equities research analysts have commented on XRN shares. BMO Capital Markets upped their target price on shares of 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. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Cantor Fitzgerald started coverage on shares of Global Medical REIT in a report on Monday, September 21st. They issued an “overweight” rating and a $43.00 price target for the company. Finally, Huntington began coverage on Global Medical REIT in a research note on Thursday, September 10th. They issued a “market perform” rating and a $37.00 price target on the stock.

Global Medical REIT Trading Down 2.6%

XRN stock opened at $29.56 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $38.65. The company has a market cap of $391.41 million, a P/E ratio of 7.70 and a beta of 1.12. The business has a fifty day moving average of $35.52 and a 200-day moving average of $35.76.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, topping the consensus estimate of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. As a group, equities research analysts expect that Global Medical REIT will post 2.89 EPS for the current year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.16 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s dividend payout ratio is currently 51.61%.

Insider Activity at Global Medical REIT

In related news, CEO Mark Decker, Jr. purchased 6,875 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average cost of $35.92 per share, for a total transaction of $246,950.00. Following the completion of the purchase, the chief executive officer directly owned 75,199 shares in the company, valued at $2,701,148.08. This trade represents a 10.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Fitzgerald acquired 14,000 shares of the business’s stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $35.78 per share, with a total value of $500,920.00. Following the acquisition, the director owned 138,893 shares in the company, valued at $4,969,591.54. The trade was a 11.21% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Medical REIT

An institutional investor recently raised its stake in Global Medical REIT stock. Clifford Capital Partners LLC grew its position in Global Medical REIT Inc. (NYSE:XRN) by 31.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,694 shares of the company’s stock after purchasing an additional 3,504 shares during the quarter. Clifford Capital Partners LLC owned about 0.11% of Global Medical REIT worth $496,000 as of its most recent SEC filing. Institutional investors and hedge funds own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.