Global Medical REIT (NYSE:XRN) Director Paula Crowley Purchases 1,000 Shares

Global Medical REIT Inc. (NYSE:XRN) Director Paula Crowley acquired 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $34.00 per share, with a total value of $34,000.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $34,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Global Medical REIT Stock Performance

XRN opened at $33.62 on Tuesday. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93. The stock has a market cap of $444.74 million, a price-to-earnings ratio of -30.28 and a beta of 1.11. The business has a 50 day moving average of $35.08 and a 200-day moving average of $34.42. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be given a $0.16 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -270.27%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on XRN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a research report on Monday, April 20th. Compass Point reaffirmed a “neutral” rating and issued 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 cut Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $39.67.

Institutional Trading of Global Medical REIT

Several hedge funds have recently added to or reduced their stakes in the company. Invesco Ltd. lifted its holdings in Global Medical REIT by 4.2% during the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after purchasing an additional 12,471 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Global Medical REIT during the 4th quarter worth approximately $563,000. XTX Topco Ltd acquired a new stake in Global Medical REIT during the 4th quarter worth approximately $515,000. Tudor Investment Corp ET AL acquired a new stake in Global Medical REIT during the 4th quarter worth approximately $930,000. Finally, Clifford Capital Partners LLC lifted its holdings in Global Medical REIT by 31.3% during the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after purchasing an additional 3,504 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

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.