Global Medical REIT Inc. (NYSE:XRN) Receives Average Rating of “Moderate Buy” from Brokerages

Global Medical REIT Inc. (NYSE:XRN) has been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.6667.

A number of analysts have commented on XRN shares. Weiss Ratings downgraded Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Compass Point reiterated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th.

Insiders Place Their Bets

In related news, COO Danica Holley bought 1,490 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $33.99 per share, with a total value of $50,645.10. Following the acquisition, the chief operating officer owned 1,590 shares in the company, valued at approximately $54,044.10. This represents a 1,490.00% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark Okey Decker, Jr. bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was bought at an average cost of $33.94 per share, with a total value of $169,700.00. Following the completion of the acquisition, the chief executive officer owned 59,774 shares in the company, valued at $2,028,729.56. This represents a 9.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 10,974 shares of company stock worth $373,826 in the last 90 days. 8.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds have recently modified their holdings of XRN. Invesco Ltd. raised its holdings in shares of Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after buying an additional 355,355 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Global Medical REIT in the 3rd quarter worth approximately $9,997,000. Marshall Wace LLP raised its holdings in shares of Global Medical REIT by 2,208.2% in the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after buying an additional 279,070 shares in the last quarter. Heartland Advisors Inc. raised its holdings in shares of Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after buying an additional 270,786 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Global Medical REIT in the 3rd quarter worth approximately $7,798,000. 57.52% of the stock is owned by institutional investors and hedge funds.

Global Medical REIT Price Performance

Shares of XRN stock opened at $33.54 on Friday. The stock has a 50 day moving average of $34.93 and a two-hundred day moving average of $34.47. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.68. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $39.93. The company has a market capitalization of $443.68 million, a P/E ratio of -30.21 and a beta of 1.11.

Global Medical REIT Announces Dividend

The business 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 of this dividend 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%.

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.