Global Medical REIT Inc. (XRN) – What Are Researchers Thinking About This Stock?

Shares of Global Medical REIT Inc. (NYSE:XRN) have received a consensus rating of “Hold” from the nine analysts that are covering the stock, Marketbeat reports. Seven research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $40.17.

XRN has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Raymond James Financial began coverage on shares of Global Medical REIT in a report on Wednesday, June 17th. They set a “market perform” rating for the company. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. BMO Capital Markets raised their target price on shares of Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Finally, Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday.

Insider Activity

In other Global Medical REIT news, Director Charles Fitzgerald purchased 14,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were bought at an average cost of $35.78 per share, with a total value of $500,920.00. Following the completion of the transaction, the director owned 138,893 shares in the company, valued at $4,969,591.54. This trade represents a 11.21% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Aaron Roseth acquired 13,500 shares of the company’s stock in a transaction dated 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 completion of the purchase, the chief operating officer directly owned 13,500 shares of the company’s stock, valued at $495,855. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have acquired 71,525 shares of company stock valued at $2,579,304. 8.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Medical REIT

An institutional investor recently raised its stake in Global Medical REIT stock. Clifford Capital Partners LLC lifted its stake in Global Medical REIT Inc. (NYSE:XRN) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,694 shares of the company’s stock after acquiring an additional 3,504 shares during the period. Clifford Capital Partners LLC owned approximately 0.11% of Global Medical REIT worth $496,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 57.52% of the company’s stock.

Global Medical REIT Stock Down 0.3%

XRN opened at $33.48 on Tuesday. The firm has a market cap of $443.33 million, a P/E ratio of 9.00 and a beta of 1.12. 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 business has a 50 day moving average price of $35.97 and a 200 day moving average price of $35.85. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $38.65.

Global Medical REIT (NYSE:XRN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating the consensus estimate of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. The company had revenue of $39.75 million for the quarter. Research analysts forecast that Global Medical REIT will post 2.89 EPS for the current year.

Global Medical REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.16 per share. This represents a $1.92 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s dividend payout ratio is 51.61%.

About Global Medical REIT

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.