Global Medical REIT Inc. (NYSE:XRN) Receives Consensus Recommendation of “Hold” from Analysts

Global Medical REIT Inc. (NYSE:XRN) has received a consensus rating of “Hold” from the eight brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $40.25.

A number of equities analysts have recently weighed in on XRN shares. Raymond James Financial initiated coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating on the stock. Compass Point reaffirmed a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. BMO Capital Markets increased 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. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Citizens Jmp lifted their target price on shares of Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 26th.

Global Medical REIT Trading Down 0.1%

Shares of NYSE XRN opened at $37.11 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 company has a market cap of $491.34 million, a price-to-earnings ratio of 9.98 and a beta of 1.09. The business has a fifty day simple moving average of $36.60 and a 200-day simple moving average of $35.90.

Global Medical REIT (NYSE:XRN) last released its earnings results 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. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. Sell-side analysts predict that Global Medical REIT will post 2.89 EPS for the current year.

Global Medical REIT Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. Global Medical REIT’s payout ratio is presently 51.61%.

Insider Buying and Selling

In other Global Medical REIT news, Director Charles Fitzgerald bought 27,600 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $35.94 per share, for a total transaction of $991,944.00. Following the purchase, the director directly owned 124,893 shares in the company, valued at $4,488,654.42. This trade represents a 28.37% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Aaron Robert Roseth purchased 13,500 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was acquired at an average cost of $36.73 per share, for a total transaction of $495,855.00. Following the completion of the transaction, the chief operating officer owned 13,500 shares in the company, valued at approximately $495,855. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 71,525 shares of company stock valued at $2,579,304. Insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd raised its position in Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares in the last quarter. Fifth Third Bancorp boosted its holdings in Global Medical REIT by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock valued at $48,000 after purchasing an additional 370 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Global Medical REIT by 70.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. B. Riley Wealth Advisors Inc. bought a new stake in shares of Global Medical REIT in the 2nd quarter valued at approximately $78,000. Finally, Virtus Advisers LLC raised its holdings in shares of Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after buying an additional 768 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

About Global Medical REIT

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.