Global Medical REIT (NYSE:XRN) Coverage Initiated by Analysts at Huntington

Stock analysts at Huntington initiated coverage on shares of Global Medical REIT (NYSE:XRN) in a report released on Wednesday, Zacks reports. The brokerage set a “hold” rating on the stock.

A number of other research analysts also recently weighed in on the company. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. BMO Capital Markets lifted their price objective on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Cantor Fitzgerald started coverage on Global Medical REIT in a report on Monday, September 21st. They issued an “overweight” rating and a $43.00 price objective for the company. Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $40.17.

Global Medical REIT Trading Down 5.5%

Shares of NYSE XRN opened at $29.88 on Wednesday. The company’s 50 day simple moving average is $33.74 and its 200 day simple moving average is $35.34. Global Medical REIT has a fifty-two week low of $28.09 and a fifty-two week high of $38.65. The firm has a market capitalization of $395.64 million, a P/E ratio of 8.86 and a beta of 1.10. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59.

Global Medical REIT (NYSE:XRN) last released its earnings results on Wednesday, November 4th. The company reported ($0.67) EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($1.22). The business had revenue of $40.34 million for the quarter. Global Medical REIT had a return on equity of 13.65% and a net margin of 36.80%. On average, analysts predict that Global Medical REIT will post 2.89 EPS for the current year.

Insiders Place Their Bets

In other Global Medical REIT news, CEO Mark Decker, Jr. bought 8,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $35.88 per share, with a total value of $287,040.00. Following the completion of the purchase, the chief executive officer owned 67,774 shares in the company, valued at approximately $2,431,731.12. The trade was a 13.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Aaron Roseth purchased 13,500 shares of the stock in a transaction on Wednesday, August 12th. The stock was acquired at an average price of $36.73 per share, with a total value of $495,855.00. Following the completion of the acquisition, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at approximately $495,855. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 71,525 shares of company stock worth $2,579,304. Corporate insiders own 8.90% of the company’s stock.

About Global Medical REIT

Global Medical REIT, Inc is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers.

Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.