D.A. Davidson & CO. Sells 19,545 Shares of Global Medical REIT Inc. $XRN

D.A. Davidson & CO. reduced its holdings in Global Medical REIT Inc. (NYSE:XRN) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,334 shares of the company’s stock after selling 19,545 shares during the quarter. D.A. Davidson & CO.’s holdings in Global Medical REIT were worth $2,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd increased its stake in 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 worth $27,000 after acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp bought a new position in Global Medical REIT in the 3rd quarter worth about $35,000. New York State Teachers Retirement System bought a new position in Global Medical REIT in the 3rd quarter worth about $39,000. Tower Research Capital LLC TRC boosted its holdings in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Global Medical REIT in the 4th quarter worth about $121,000. 57.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

XRN has been the subject of a number of research reports. Wall Street Zen upgraded Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings reiterated 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 assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Global Medical REIT Price Performance

XRN opened at $35.42 on Friday. The stock has a 50-day moving average price of $35.26 and a 200-day moving average price of $34.31. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93. 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 $468.81 million, a P/E ratio of -39.36 and a beta of 1.16.

Global Medical REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 20th. This represents a c) annualized dividend and a yield of 8.5%. Global Medical REIT’s dividend payout ratio is currently -333.33%.

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.