Global Medical REIT Inc. (NYSE:XRN) Stock Now Rated “Hold” by Wall Street Analysts

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $40.17.

XRN has been the subject of several research reports. BMO Capital Markets raised their price objective on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Zacks Research raised Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Raymond James Financial assumed coverage on Global Medical REIT in a research report on Wednesday, June 17th. They issued a “market perform” rating for the company. Finally, Cantor Fitzgerald started coverage on Global Medical REIT in a research note on Monday, September 21st. They issued an “overweight” rating and a $43.00 price target on the stock.

Global Medical REIT Trading Down 0.3%

Shares of NYSE:XRN opened at $33.48 on Tuesday. The stock has a market capitalization of $443.33 million, a price-to-earnings ratio of 9.00 and a beta of 1.12. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $38.65. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. The company has a 50 day moving average price of $35.97 and a 200 day moving average price of $35.85.

Global Medical REIT (NYSE:XRN) last posted 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 firm 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%. On average, research analysts anticipate that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.92 dividend on an annualized basis and a yield of 5.7%. Global Medical REIT’s dividend payout ratio is currently 51.61%.

Insiders Place Their Bets

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. acquired 8,000 shares of Global Medical REIT stock in a transaction that occurred 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 purchase, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles Fitzgerald acquired 27,600 shares of Global Medical REIT stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $35.94 per share, with a total value of $991,944.00. Following the purchase, the director owned 124,893 shares in the company, valued at $4,488,654.42. The trade was a 28.37% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 71,525 shares of company stock worth $2,579,304 over the last ninety days. 8.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Global Medical REIT

An institutional investor recently raised its stake in Global Medical REIT stock. Clifford Capital Partners LLC grew its stake in Global Medical REIT Inc. (NYSE:XRN) by 31.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,694 shares of the company’s stock after buying an additional 3,504 shares during the period. Clifford Capital Partners LLC owned approximately 0.11% of Global Medical REIT worth $496,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Company Profile

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.