Mark Okey Decker Jr Buys 5,000 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. acquired 5,000 shares of Global Medical REIT stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $33.94 per share, for a total transaction of $169,700.00. Following the acquisition, the chief executive officer owned 59,774 shares in the company, valued at approximately $2,028,729.56. This represents a 9.13% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Global Medical REIT Trading Up 1.7%

XRN traded up $0.57 during mid-day trading on Tuesday, reaching $34.11. The stock had a trading volume of 422,301 shares, compared to its average volume of 119,647. The firm’s fifty day simple moving average is $35.08 and its two-hundred day simple moving average is $34.42. The stock has a market capitalization of $451.21 million, a P/E ratio of -30.73 and a beta of 1.11. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $39.93. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61.

Global Medical REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.16 per share. This represents a c) annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s payout ratio is currently -270.27%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on XRN. Compass Point reaffirmed a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings lowered shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.67.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors have recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd increased its stake in shares of Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp bought a new position in Global Medical REIT during the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new position in Global Medical REIT during the third quarter valued at approximately $39,000. Virtus Advisers LLC grew its holdings in Global Medical REIT by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after purchasing an additional 768 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Global Medical REIT in the fourth quarter valued at approximately $92,000. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.