Global Medical REIT (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock Buys 500 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of the stock in a transaction dated Monday, August 17th. The stock was purchased at an average cost of $36.38 per share, for a total transaction of $18,190.00. Following the completion of the acquisition, the executive owned 2,000 shares of the company’s stock, valued at approximately $72,760. This represents a 33.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Friday, August 14th, Matthew Fitzsimmons Whitlock acquired 500 shares of Global Medical REIT stock. The shares were purchased at an average cost of $37.21 per share, with a total value of $18,605.00.

Global Medical REIT Price Performance

NYSE XRN traded down $0.65 on Monday, hitting $36.46. The stock had a trading volume of 74,731 shares, compared to its average volume of 120,286. The firm has a 50-day moving average of $36.62 and a 200-day moving average of $35.82. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93. The company has a market capitalization of $482.66 million, a price-to-earnings ratio of 9.80 and a beta of 1.09.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of XRN. Caitong International Asset Management Co. Ltd increased its holdings in shares of Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after buying an additional 721 shares during the period. Fifth Third Bancorp boosted 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 valued at $48,000 after acquiring an additional 370 shares during the period. Tower Research Capital LLC TRC grew its position in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after acquiring an additional 3,046 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in Global Medical REIT during the 2nd quarter worth approximately $78,000. Finally, Virtus Advisers LLC increased its stake in Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after purchasing an additional 768 shares during the period. 57.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

XRN has been the subject of several recent analyst reports. Raymond James Financial began coverage on Global Medical REIT in a report on Wednesday, June 17th. They set a “market perform” rating for the company. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Compass Point reaffirmed a “neutral” rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Global Medical REIT has a consensus rating of “Hold” and a consensus target price of $40.25.

About Global Medical REIT

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.