Global Medical REIT Inc. (NYSE:XRN) Stock Rated “Hold” by Sell-Side Brokerages

Global Medical REIT Inc. (NYSE:XRN) has earned a consensus rating of “Hold” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $40.17.

Several research analysts recently commented on XRN shares. Raymond James Financial initiated coverage on Global Medical REIT in a research report on Wednesday, June 17th. They issued a “market perform” rating for the company. BMO Capital Markets lifted their price objective on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Zacks Research upgraded Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, September 12th.

Global Medical REIT Stock Performance

Shares of NYSE XRN opened at $35.74 on Friday. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $38.65. The business’s 50 day moving average is $36.56 and its two-hundred day moving average is $35.97. The company has a market cap of $473.14 million, a P/E ratio of 9.61 and a beta of 1.10. 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 (NYSE:XRN) last issued its quarterly earnings results 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. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The firm had revenue of $39.75 million during the quarter. On average, equities analysts expect that Global Medical REIT will post 2.89 EPS for the current year.

Global Medical REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a $1.92 dividend on an annualized basis and a yield of 5.4%. Global Medical REIT’s dividend payout ratio is 51.61%.

Insider Buying and Selling

In other Global Medical REIT news, Director Charles Fitzgerald bought 27,600 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average price of $35.94 per share, with a total value of $991,944.00. Following the completion of the transaction, the director owned 124,893 shares in the company, valued at approximately $4,488,654.42. This trade represents a 28.37% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Decker, Jr. acquired 8,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was bought at an average price of $35.88 per share, with a total value of $287,040.00. Following the acquisition, 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. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 71,525 shares of company stock worth $2,579,304. 8.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors have recently bought and sold shares of XRN. Clifford Capital Partners LLC raised 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 acquiring an additional 3,504 shares during the period. Heartland Advisors Inc. boosted its stake in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after buying an additional 270,786 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Global Medical REIT by 11.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after acquiring an additional 2,000 shares during the period. Eurizon Capital SGR S.p.A. acquired a new stake in Global Medical REIT during the fourth quarter worth about $92,000. Finally, Arrow Investment Advisors LLC boosted its position in shares of Global Medical REIT by 339.7% during the 4th quarter. Arrow Investment Advisors LLC now owns 28,028 shares of the company’s stock worth $946,000 after acquiring an additional 21,654 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.