Global Medical REIT (NYSE:XRN) General Counsel Jamie Allen Barber Purchases 1,481 Shares

Global Medical REIT Inc. (NYSE:XRN) General Counsel Jamie Allen Barber purchased 1,481 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $33.50 per share, for a total transaction of $49,613.50. Following the completion of the transaction, the general counsel directly owned 1,481 shares in the company, valued at $49,613.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Global Medical REIT Price Performance

Shares of XRN stock traded up $0.24 during midday trading on Wednesday, reaching $34.35. 275,987 shares of the company were exchanged, compared to its average volume of 167,518. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93. The company has a market cap of $454.38 million, a P/E ratio of -30.94 and a beta of 1.11. The company’s 50 day moving average price is $35.01 and its two-hundred day moving average price is $34.46. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.61 and a current ratio of 0.68.

Global Medical REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.16 per share. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -270.27%.

Hedge Funds Weigh In On Global Medical REIT

Large investors have recently made changes to their positions in the business. Invesco Ltd. boosted its holdings in shares of Global Medical REIT by 4.2% in the fourth quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after buying an additional 12,471 shares during the period. Mackenzie Financial Corp acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $563,000. XTX Topco Ltd acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $515,000. Tudor Investment Corp ET AL acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $930,000. Finally, Clifford Capital Partners LLC boosted its holdings in shares of Global Medical REIT by 31.3% in the fourth quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after buying an additional 3,504 shares during the period. Institutional investors own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

XRN has been the subject of a number of research reports. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Compass Point restated a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Global Medical REIT has an average rating of “Moderate Buy” and a consensus price target of $39.67.

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.