Global Medical REIT (NYSE:XRN) Releases Earnings Results, Beats Estimates By $0.20 EPS

Global Medical REIT (NYSE:XRN) announced its quarterly earnings results on Wednesday. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.20, reports. The company had revenue of $40.34 million for the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%.

Global Medical REIT Trading Down 8.4%

NYSE:XRN traded down $2.67 during midday trading on Thursday, hitting $28.96. 47,834 shares of the company traded hands, compared to its average volume of 124,870. The firm has a market capitalization of $383.44 million, a P/E ratio of 7.79 and a beta of 1.10. The firm’s fifty day moving average is $33.89 and its 200-day moving average is $35.37. Global Medical REIT has a 12-month low of $28.09 and a 12-month high of $38.65. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37.

Global Medical REIT Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be issued a dividend of $0.16 per share. This represents a $1.92 annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s dividend payout ratio is presently 51.61%.

Wall Street Analyst Weigh In

Several research firms have commented on XRN. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. 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 target price on the stock. Cantor Fitzgerald began coverage on shares of Global Medical REIT in a report on Monday, September 21st. They issued an “overweight” rating and a $43.00 price target for the company. Finally, Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $40.17.

Insiders Place Their Bets

In other news, COO Aaron Roseth acquired 13,500 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were acquired at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the completion of the transaction, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at approximately $495,855. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark Decker, Jr. acquired 8,000 shares of the business’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $35.88 per share, for a total transaction of $287,040.00. Following the transaction, the chief executive officer directly owned 67,774 shares of the company’s stock, valued at approximately $2,431,731.12. The trade was a 13.38% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 71,525 shares of company stock valued at $2,579,304 over the last three months. 8.90% of the stock is owned by company insiders.

Global Medical REIT Company Profile

Global Medical REIT, Inc is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers.

Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.