Global Medical REIT (NYSE:XRN) Director Henry Cole Acquires 583 Shares

Global Medical REIT Inc. (NYSE:XRN) Director Henry Cole purchased 583 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $34.30 per share, for a total transaction of $19,996.90. Following the purchase, the director owned 2,129 shares in the company, valued at $73,024.70. The trade was a 37.71% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.

Global Medical REIT Stock Performance

XRN stock traded down $0.37 during mid-day trading on Monday, hitting $33.62. 656,684 shares of the company were exchanged, compared to its average volume of 125,620. The business has a 50 day simple moving average of $35.08 and a 200-day simple moving average of $34.42. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $444.74 million, a PE ratio of -30.28 and a beta of 1.11. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $39.93.

Global Medical REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Global Medical REIT’s dividend payout ratio (DPR) is -270.27%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in XRN. Caitong International Asset Management Co. Ltd raised its position 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 valued at $27,000 after buying an additional 721 shares in the last quarter. Fifth Third Bancorp bought a new stake in shares of Global Medical REIT in the third quarter valued at approximately $35,000. New York State Teachers Retirement System acquired a new stake in Global Medical REIT during the third quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its stake 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 period. Finally, B. Riley Wealth Advisors Inc. bought a new position in Global Medical REIT during the 2nd quarter worth $78,000. 57.52% of the stock is owned by institutional investors.

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.