Global Medical REIT (NYSE:XRN) Now Covered by Analysts at Huntington

Huntington assumed coverage on shares of Global Medical REIT (NYSE:XRN) in a report issued on Wednesday,Zacks reports. The brokerage issued a hold rating on the stock.

XRN has been the topic of several other reports. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Cantor Fitzgerald started coverage on Global Medical REIT in a research note on Monday, September 21st. They set an “overweight” rating and a $43.00 price target for the company. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. BMO Capital Markets raised their price target on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a report on Monday, July 13th. Finally, Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Two equities research 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, the stock currently has an average rating of “Hold” and a consensus price target of $40.17.

Global Medical REIT Stock Performance

Shares of NYSE XRN opened at $29.88 on Wednesday. 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 $395.64 million, a P/E ratio of 8.54 and a beta of 1.10. The firm’s fifty day moving average is $33.74 and its two-hundred day moving average is $35.34. Global Medical REIT has a 52-week low of $28.09 and a 52-week high of $38.65.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of $0.55 by ($1.22). The company had revenue of $40.34 million for the quarter. Global Medical REIT had a net margin of 36.80% and a return on equity of 13.65%. As a group, analysts anticipate that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be issued a $0.16 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 6.4%. Global Medical REIT’s payout ratio is 51.61%.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. bought 8,000 shares of Global Medical REIT stock in a transaction on Monday, August 10th. The shares were acquired at an average price of $35.88 per share, for a total transaction of $287,040.00. Following the completion of the purchase, the chief executive officer directly owned 67,774 shares in the company, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Charles Fitzgerald bought 27,600 shares of Global Medical REIT stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $35.94 per share, for a total transaction of $991,944.00. Following the purchase, the director owned 124,893 shares of the company’s stock, valued at approximately $4,488,654.42. This trade represents a 28.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 71,525 shares of company stock worth $2,579,304 over the last 90 days. Company insiders own 8.90% of the company’s stock.

About Global Medical REIT

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.