Global Medical REIT (NYSE:XRN) CIO Purchases $18,605.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $37.21 per share, for a total transaction of $18,605.00. Following the completion of the purchase, the executive directly owned 1,500 shares of the company’s stock, valued at approximately $55,815. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Monday, August 17th, Matthew Fitzsimmons Whitlock purchased 500 shares of Global Medical REIT stock. The shares were purchased at an average price of $36.38 per share, with a total value of $18,190.00.

Global Medical REIT Stock Up 2.1%

NYSE XRN opened at $36.88 on Thursday. The business has a fifty day moving average price of $36.61 and a 200 day moving average price of $35.86. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $39.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. The company has a market cap of $488.28 million, a P/E ratio of 9.91 and a beta of 1.09.

Global Medical REIT (NYSE:XRN) last announced its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $39.75 million for the quarter. Research analysts anticipate that Global Medical REIT Inc. will post 2.89 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Shareholders 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) dividend on an annualized basis and a yield of 5.2%. Global Medical REIT’s dividend payout ratio is presently 51.61%.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of XRN. Invesco Ltd. grew its stake in shares of Global Medical REIT by 4.2% in the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock valued at $10,474,000 after buying an additional 12,471 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Global Medical REIT during the 4th quarter valued at approximately $563,000. XTX Topco Ltd purchased a new stake in shares of Global Medical REIT during the 4th quarter valued at approximately $515,000. Tudor Investment Corp ET AL purchased a new stake in shares of Global Medical REIT during the 4th quarter valued at approximately $930,000. Finally, Clifford Capital Partners LLC lifted its holdings in Global Medical REIT by 31.3% in the fourth 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 last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on XRN shares. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Compass Point reissued a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Citizens Jmp upped their target price 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. Finally, BMO Capital Markets raised their target price on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.25.

About Global Medical REIT

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.