Global Medical REIT (NYSE:XRN) Earns Market Perform Rating from Analysts at Huntington

Equities researchers at Huntington assumed coverage on shares of Global Medical REIT (NYSE:XRN) in a research report issued to clients and investors on Thursday, Briefing.com reports. The brokerage set a “market perform” rating and a $37.00 price target on the stock. Huntington’s price target suggests a potential upside of 0.14% from the company’s current price.

A number of other brokerages have also weighed in on XRN. Zacks Research upgraded Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Raymond James Financial started coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating for the company. BMO Capital Markets boosted their target price on shares of Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Finally, Citizens Jmp upped their price target on shares of Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.60.

Global Medical REIT Trading Down 0.6%

NYSE:XRN opened at $36.95 on Thursday. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $39.93. The firm has a 50 day moving average of $36.79 and a 200 day moving average of $35.96. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $489.22 million, a price-to-earnings ratio of 9.93 and a beta of 1.10.

Global Medical REIT (NYSE:XRN) last announced its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $39.75 million during the quarter. As a group, sell-side analysts anticipate that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Mark Decker, Jr. bought 6,875 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $35.92 per share, with a total value of $246,950.00. Following the completion of the acquisition, the chief executive officer directly owned 75,199 shares of the company’s stock, valued at $2,701,148.08. This trade represents a 10.06% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Aaron Roseth purchased 13,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was acquired at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the acquisition, the chief operating officer owned 13,500 shares in the company, valued at $495,855. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 71,525 shares of company stock valued at $2,579,304 over the last quarter. 8.90% of the stock is currently owned by company insiders.

Institutional Trading of Global Medical REIT

Large investors have recently made changes to their positions in the business. Invesco Ltd. raised its position in shares of Global Medical REIT by 30.5% in the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after acquiring an additional 355,355 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Global Medical REIT during the 3rd quarter valued at about $9,997,000. Marshall Wace LLP grew its position in shares of Global Medical REIT by 2,208.2% during the 2nd quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock valued at $2,022,000 after acquiring an additional 279,070 shares during the period. Heartland Advisors Inc. increased its stake in shares of Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after purchasing an additional 270,786 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Global Medical REIT in the 3rd quarter valued at about $7,798,000. 57.52% of the stock is owned by hedge funds and other institutional investors.

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.