Insider Buying: Global Medical REIT (NYSE:XRN) Director Buys 1,000 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) Director Paula Crowley purchased 1,000 shares of Global Medical REIT stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $34.00 per share, for a total transaction of $34,000.00. Following the transaction, the director directly owned 1,000 shares of the company’s stock, valued at approximately $34,000. This represents a ? increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Medical REIT Stock Down 1.1%

Shares of XRN stock traded down $0.37 during trading on Monday, reaching $33.62. The company’s stock had a trading volume of 656,684 shares, compared to its average volume of 125,620. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $444.74 million, a price-to-earnings ratio of -30.28 and a beta of 1.11. The stock’s 50-day moving average price is $35.08 and its 200 day moving average price is $34.42. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $39.93.

Global Medical REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 20th. This represents a c) annualized dividend and a dividend yield of 5.7%. Global Medical REIT’s payout ratio is -270.27%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Medical REIT in a research note on Monday, April 20th. Compass Point reissued a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in XRN. Heartland Advisors Inc. acquired a new stake in shares of Global Medical REIT in the 3rd quarter valued at $5,147,000. Peregrine Capital Management LLC acquired a new position in shares of Global Medical REIT during the third quarter worth $4,785,000. Pensionfund PDN purchased a new position in Global Medical REIT in the fourth quarter valued at $837,000. New York State Teachers Retirement System purchased a new position in Global Medical REIT in the third quarter valued at $39,000. Finally, The Manufacturers Life Insurance Company raised its stake in Global Medical REIT by 12.1% in the second quarter. The Manufacturers Life Insurance Company now owns 60,584 shares of the company’s stock valued at $420,000 after buying an additional 6,539 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.