Henry Cole Purchases 583 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) Director Henry Cole purchased 583 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $34.30 per share, for a total transaction of $19,996.90. Following the transaction, the director directly owned 2,129 shares of the company’s stock, valued at $73,024.70. This trade represents a 37.71% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

Global Medical REIT Price Performance

XRN stock traded down $0.37 during midday trading on Monday, reaching $33.62. The company had a trading volume of 656,684 shares, compared to its average volume of 125,620. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $39.93. The stock has a 50 day moving average price of $35.08 and a 200-day moving average price of $34.42. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.61 and a quick ratio of 0.61. The company has a market capitalization of $444.74 million, a price-to-earnings ratio of -30.28 and a beta of 1.11.

Global Medical REIT Announces Dividend

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

Analyst Upgrades and Downgrades

XRN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Medical REIT in a report on Monday, April 20th. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Compass Point restated a “neutral” rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its holdings in shares of 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 acquiring an additional 721 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Global Medical REIT during the 3rd quarter valued at approximately $35,000. New York State Teachers Retirement System acquired a new position in Global Medical REIT during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its position in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in Global Medical REIT in the 2nd quarter valued at approximately $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.