Brokerages Set Global Medical REIT Inc. (NYSE:XRN) Target Price at $42.00

Shares of Global Medical REIT Inc. (NYSE:XRN) have received an average recommendation of “Moderate Buy” from the five analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $40.50.

Separately, Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st.

Global Medical REIT Trading Up 0.7%

NYSE XRN opened at $33.19 on Friday. The firm has a 50 day simple moving average of $35.50 and a 200-day simple moving average of $34.20. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61. Global Medical REIT has a one year low of $29.05 and a one year high of $43.05. The firm has a market cap of $439.10 million, a price-to-earnings ratio of -36.88 and a beta of 1.16.

Global Medical REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Wednesday, May 20th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, May 20th. This represents a c) dividend on an annualized basis and a yield of 9.0%. Global Medical REIT’s dividend payout ratio (DPR) is -333.33%.

Institutional Investors Weigh In On Global Medical REIT

Several large investors have recently bought and sold shares of the stock. Marshall Wace LLP increased its stake in shares of Global Medical REIT by 0.8% during the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock worth $1,290,000 after buying an additional 308 shares during the period. Daiwa Securities Group Inc. grew its holdings in Global Medical REIT by 7.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock worth $163,000 after acquiring an additional 332 shares in the last quarter. Fifth Third Bancorp grew its holdings in Global Medical REIT by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after acquiring an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its position in shares of Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after purchasing an additional 721 shares during the last quarter. Finally, Virtus Advisers LLC increased its position in shares of Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after purchasing an additional 768 shares during the last quarter. Hedge funds and other institutional investors 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.