Global Medical REIT (NYSE:XRN) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald assumed coverage on shares of Global Medical REIT (NYSE:XRN) in a report released on Monday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $43.00 target price on the stock.

Several other brokerages also recently issued reports on XRN. Huntington initiated coverage on shares of Global Medical REIT in a research report on Thursday, September 10th. They set a “market perform” rating and a $37.00 price objective for the company. Citizens Jmp increased their target price on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 26th. Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial began coverage on Global Medical REIT in a report on Wednesday, June 17th. They issued a “market perform” rating on the stock. Finally, Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Global Medical REIT has a consensus rating of “Hold” and an average target price of $40.17.

Global Medical REIT Trading Up 1.4%

Shares of XRN opened at $36.40 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. Global Medical REIT has a 12-month low of $29.05 and a 12-month high of $39.93. The firm has a market capitalization of $481.94 million, a PE ratio of 9.78 and a beta of 1.10. The stock’s fifty day simple moving average is $36.64 and its 200-day simple moving average is $35.97.

Global Medical REIT (NYSE:XRN) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $39.75 million for the quarter. As a group, research analysts predict that Global Medical REIT will post 2.89 earnings per share for the current year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be given a $0.16 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio (DPR) is 51.61%.

Insider Transactions at Global Medical REIT

In other news, CEO Mark Decker, Jr. acquired 8,000 shares of the stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $35.88 per share, for a total transaction of $287,040.00. Following the purchase, the chief executive officer directly owned 67,774 shares of the company’s stock, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles Fitzgerald bought 27,600 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $35.94 per share, for a total transaction of $991,944.00. Following the completion of the acquisition, the director owned 124,893 shares in the company, valued at $4,488,654.42. This trade represents a 28.37% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 71,525 shares of company stock worth $2,579,304 in the last ninety days. Insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

Institutional investors and hedge funds have recently bought and sold shares of the business. Clifford Capital Partners LLC increased its holdings in Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after acquiring an additional 3,504 shares during the last quarter. Heartland Advisors Inc. boosted its position in Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after purchasing an additional 270,786 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Global Medical REIT by 11.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock worth $661,000 after purchasing an additional 2,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of Global Medical REIT in the fourth quarter worth about $92,000. Institutional investors own 57.52% of the company’s stock.

Global Medical REIT Company Profile

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.