Global Medical REIT (NYSE:XRN) Stock Breaks Below 50 Day Moving Average – Should You Sell?

Global Medical REIT Inc. (NYSE:XRN)’s share price passed below its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $36.34 and traded as low as $33.89. Global Medical REIT shares last traded at $34.4160, with a volume of 143,192 shares.

Wall Street Analyst Weigh In

XRN has been the subject of several analyst reports. Wall Street Zen upgraded shares of Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday, September 12th. Raymond James Financial began coverage on shares of Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating for the company. Huntington initiated coverage on Global Medical REIT in a research note on Thursday, September 10th. They issued a “market perform” rating and a $37.00 price target on the stock. Cantor Fitzgerald started coverage on Global Medical REIT in a research report on Monday, September 21st. They set an “overweight” rating and a $43.00 price objective for the company. Finally, Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.17.

Global Medical REIT Price Performance

The business’s 50-day simple moving average is $36.26 and its two-hundred day simple moving average is $35.93. The stock has a market cap of $450.23 million, a price-to-earnings ratio of 9.14 and a beta of 1.12. 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 announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. Research analysts expect that Global Medical REIT Inc. will post 2.89 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.16 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s payout ratio is 51.61%.

Insider Activity

In other Global Medical REIT news, Director Charles Fitzgerald bought 27,600 shares of Global Medical REIT stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $35.94 per share, with a total value of $991,944.00. Following the acquisition, the director directly owned 124,893 shares of the company’s stock, valued at $4,488,654.42. The trade was a 28.37% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark Okey Decker, Jr. purchased 8,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $35.88 per share, with a total value of $287,040.00. Following the completion of the transaction, the chief executive officer owned 67,774 shares in the company, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 71,525 shares of company stock valued at $2,579,304 over the last quarter. 8.90% of the stock is owned by company insiders.

Institutional Trading of Global Medical REIT

Several institutional investors have recently modified their holdings of XRN. Nomura Asset Management Co. Ltd. lifted its holdings in Global Medical REIT by 11.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock worth $661,000 after buying an additional 2,000 shares during the period. Eurizon Capital SGR S.p.A. bought a new position in shares of Global Medical REIT during the fourth quarter worth about $92,000. Clifford Capital Partners LLC lifted its stake in shares of Global Medical REIT by 31.3% in the fourth quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after acquiring an additional 3,504 shares during the period. Finally, Heartland Advisors Inc. boosted its holdings in 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 acquiring an additional 270,786 shares during the last quarter. Institutional investors own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.