Global Medical REIT Inc. (NYSE:XRN) Given Average Rating of “Hold” by Analysts

Global Medical REIT Inc. (NYSE:XRN) has been given a consensus rating of “Hold” by the seven ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $40.00.

Several equities research analysts recently commented on XRN shares. Citizens Jmp upped their price target on shares of Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 26th. Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Compass Point restated a “neutral” rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. BMO Capital Markets upped their price target on shares of Global Medical REIT from $33.00 to $39.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Finally, Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, General Counsel Jamie Allen Barber purchased 1,481 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $33.50 per share, for a total transaction of $49,613.50. Following the acquisition, the general counsel owned 1,481 shares of the company’s stock, valued at $49,613.50. This trade represents a ? increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Paula Crowley purchased 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $34.00 per share, for a total transaction of $34,000.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $34,000. This represents a ? increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 10,974 shares of company stock worth $373,826 in the last ninety days. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in Global Medical REIT by 4.2% in the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock valued at $10,474,000 after buying an additional 12,471 shares during the last quarter. Mackenzie Financial Corp acquired a new position in Global Medical REIT in the 4th quarter valued at $563,000. XTX Topco Ltd acquired a new position in Global Medical REIT in the 4th quarter valued at $515,000. Tudor Investment Corp ET AL acquired a new position in Global Medical REIT in the 4th quarter valued at $930,000. Finally, Clifford Capital Partners LLC grew its stake in Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock valued at $496,000 after buying an additional 3,504 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Global Medical REIT Trading Up 0.3%

Shares of NYSE:XRN opened at $37.18 on Wednesday. The stock has a market capitalization of $491.84 million, a price-to-earnings ratio of -33.49 and a beta of 1.11. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68. The company has a 50 day moving average price of $35.36 and a 200 day moving average price of $35.12.

Global Medical REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be issued 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 5.2%. Global Medical REIT’s dividend payout ratio (DPR) is currently -270.27%.

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.