Global Medical REIT (NYSE:XRN) Stock Rating Lowered by Wall Street Zen

Global Medical REIT (NYSE:XRN) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday, Wall Street Zen reports.

Several other research analysts also recently issued reports on XRN. Huntington began coverage on shares of Global Medical REIT in a research note on Thursday, September 10th. They issued a “market perform” rating and a $37.00 target price on the stock. Raymond James Financial began coverage on Global Medical REIT in a research report on Wednesday, June 17th. They issued a “market perform” rating for the company. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. BMO Capital Markets raised their price target on shares of Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Finally, Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Global Medical REIT has an average rating of “Hold” and a consensus target price of $40.17.

Global Medical REIT Stock Up 0.1%

Shares of Global Medical REIT stock opened at $33.64 on Friday. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $38.65. The firm has a market cap of $445.39 million, a price-to-earnings ratio of 9.04 and a beta of 1.12. The company has a 50-day moving average of $36.01 and a 200 day moving average of $35.87. 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 posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, topping the consensus estimate of $0.83 by $3.95. The business had revenue of $39.75 million for the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. As a group, sell-side analysts anticipate that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling at Global Medical REIT

In other news, CEO Mark Okey Decker, Jr. bought 8,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles Fitzgerald purchased 27,600 shares of the business’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $35.94 per share, with a total value of $991,944.00. Following the completion of the purchase, the director owned 124,893 shares in the company, valued at approximately $4,488,654.42. This trade represents a 28.37% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Medical REIT

A hedge fund recently raised its stake in Global Medical REIT stock. Clifford Capital Partners LLC increased its holdings in Global Medical REIT Inc. (NYSE:XRN) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,694 shares of the company’s stock after buying an additional 3,504 shares during the quarter. Clifford Capital Partners LLC owned 0.11% of Global Medical REIT worth $496,000 at the end of the most recent reporting period. Institutional investors own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.