Global Medical REIT Inc. (NYSE:XRN) Given Average Rating of “Moderate Buy” by Brokerages

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.50.

A number of research firms have commented on XRN. 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. Wall Street Zen raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, April 4th.

Global Medical REIT Price Performance

Shares of XRN opened at $36.19 on Tuesday. The firm has a market capitalization of $478.73 million, a price-to-earnings ratio of -40.21 and a beta of 1.16. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $39.93. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The firm’s fifty day simple moving average is $35.42 and its 200-day simple moving average is $34.13.

Global Medical REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Wednesday, May 20th will be given a $0.25 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 8.3%. The ex-dividend date of this dividend is Wednesday, May 20th. Global Medical REIT’s payout ratio is currently -333.33%.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of XRN. Invesco Ltd. increased its position in Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after purchasing an additional 355,355 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Global Medical REIT in the third quarter valued at $9,997,000. Marshall Wace LLP boosted its stake in shares of Global Medical REIT by 2,208.2% in the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock valued at $2,022,000 after purchasing an additional 279,070 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after purchasing an additional 270,786 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Global Medical REIT in the third quarter valued at $7,798,000. 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.