Matthew Cypher Acquires 1,420 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) Director Matthew Cypher bought 1,420 shares of Global Medical REIT stock in a transaction dated Thursday, May 14th. The stock was acquired at an average price of $35.12 per share, with a total value of $49,870.40. Following the acquisition, the director directly owned 1,690 shares of the company’s stock, valued at approximately $59,352.80. This represents a 525.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Global Medical REIT Price Performance

XRN opened at $33.54 on Friday. The stock has a fifty day moving average of $34.93 and a 200-day moving average of $34.47. The firm has a market capitalization of $443.85 million, a P/E ratio of -30.21 and a beta of 1.11. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

Global Medical REIT Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be issued a $0.16 dividend. 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 is presently -270.27%.

Institutional Trading of Global Medical REIT

Hedge funds and other institutional investors have recently modified their holdings of the company. Heartland Advisors Inc. purchased a new stake in shares of Global Medical REIT during the third quarter worth $5,147,000. Pensionfund PDN purchased a new stake in shares of Global Medical REIT during the fourth quarter worth $837,000. Versor Investments LP purchased a new stake in shares of Global Medical REIT during the third quarter worth $286,000. Samalin Investment Counsel LLC purchased a new stake in shares of Global Medical REIT during the third quarter worth $273,000. Finally, Eurizon Capital SGR S.p.A. purchased a new stake in shares of Global Medical REIT during the fourth quarter worth $92,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Compass Point restated a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $39.67.

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.