Global Medical REIT (NYSE:XRN) Director Henry Cole Purchases 583 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) Director Henry Cole acquired 583 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was bought at an average price of $34.30 per share, with a total value of $19,996.90. Following the purchase, the director directly owned 2,129 shares of the company’s stock, valued at $73,024.70. This represents a 37.71% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Global Medical REIT Stock Performance

NYSE XRN opened at $33.62 on Tuesday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. Global Medical REIT Inc. has a 1 year low of $29.05 and a 1 year high of $39.93. The company has a market capitalization of $444.74 million, a PE ratio of -30.28 and a beta of 1.11. The company has a fifty day moving average of $35.08 and a two-hundred day moving average of $34.42.

Global Medical REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.16 dividend. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s dividend payout ratio is currently -270.27%.

Wall Street Analysts Forecast Growth

XRN has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday. Compass Point reaffirmed a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a report on Monday, April 20th. One 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 data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.67.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd raised its holdings in shares of Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after buying an additional 721 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Global Medical REIT in the third quarter valued at about $35,000. New York State Teachers Retirement System purchased a new position in Global Medical REIT during the third quarter worth about $39,000. Virtus Advisers LLC raised its holdings 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 purchasing an additional 768 shares in the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Global Medical REIT during the fourth quarter worth about $92,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

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.