Global Medical REIT (NYSE:XRN) Given “Neutral” Rating at Compass Point

Global Medical REIT (NYSE:XRN)‘s stock had its “neutral” rating reaffirmed by equities research analysts at Compass Point in a research report issued on Thursday,Benzinga reports. They currently have a $38.00 price objective on the stock, down from their prior price objective of $50.00. Compass Point’s price objective suggests a potential upside of 6.73% from the company’s current price.

Other equities research analysts also recently issued reports about the stock. Wall Street Zen raised shares of Global Medical REIT from a “sell” rating to a “hold” rating in a research note on Saturday, April 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Global Medical REIT in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $39.67.

Global Medical REIT Trading Up 0.7%

XRN opened at $35.60 on Thursday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market cap of $471.04 million, a price-to-earnings ratio of -39.56 and a beta of 1.11. The firm has a 50 day simple moving average of $35.24 and a 200 day simple moving average of $34.39. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $39.93.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Peregrine Capital Management LLC acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $4,785,000. Heartland Advisors Inc. acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $5,147,000. Pensionfund PDN acquired a new position in shares of Global Medical REIT in the fourth quarter valued at approximately $837,000. Brookwood Investment Group LLC acquired a new position in shares of Global Medical REIT in the fourth quarter valued at approximately $321,000. Finally, Sound Income Strategies LLC boosted its holdings in shares of Global Medical REIT by 962.6% in the fourth quarter. Sound Income Strategies LLC now owns 6,737 shares of the company’s stock valued at $243,000 after buying an additional 6,103 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.