Global Medical REIT (NYSE:XRN) Research Coverage Started at Huntington

Huntington started coverage on shares of Global Medical REIT (NYSE:XRN) in a research note released on Thursday, MarketBeat.com reports. The firm issued a market perform rating and a $37.00 price target on the stock.

Several other research firms have also commented on XRN. BMO Capital Markets increased their target price on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Zacks Research raised Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Raymond James Financial started coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating for the company. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Finally, Citizens Jmp increased their price objective on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $39.60.

Global Medical REIT Trading Down 1.8%

NYSE XRN opened at $35.95 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $39.93. The stock has a market capitalization of $475.91 million, a PE ratio of 9.66 and a beta of 1.10. The firm has a 50 day moving average of $36.73 and a two-hundred day moving average of $35.97.

Global Medical REIT (NYSE:XRN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $3.95. The business had revenue of $39.75 million for the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. As a group, research analysts expect that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a dividend yield of 5.3%. Global Medical REIT’s dividend payout ratio is presently 51.61%.

Insider Activity at Global Medical REIT

In related news, COO Aaron Roseth purchased 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $36.73 per share, for a total transaction of $495,855.00. Following the purchase, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at $495,855. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Decker, Jr. purchased 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $35.88 per share, for a total transaction of $287,040.00. Following the completion of the purchase, the chief executive officer directly owned 67,774 shares in the company, valued at $2,431,731.12. This represents a 13.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 71,525 shares of company stock valued at $2,579,304 in the last ninety days. Insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

A number of large investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its position in shares of Global Medical REIT by 0.8% in the 4th quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock worth $1,290,000 after buying an additional 308 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in Global Medical REIT by 7.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock valued at $163,000 after acquiring an additional 332 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings in Global Medical REIT by 1,001.4% during 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 in the last quarter. Virtus Advisers LLC raised its position in Global Medical REIT by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after acquiring an additional 768 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in Global Medical REIT by 5.9% during the fourth quarter. Wells Fargo & Company MN now owns 26,646 shares of the company’s stock worth $899,000 after acquiring an additional 1,490 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

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.