Global Medical REIT (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock Buys 500 Shares

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $37.21 per share, with a total value of $18,605.00. Following the completion of the transaction, the executive directly owned 1,500 shares of the company’s stock, valued at approximately $55,815. This represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Monday, August 17th, Matthew Fitzsimmons Whitlock acquired 500 shares of Global Medical REIT stock. The shares were bought at an average price of $36.38 per share, for a total transaction of $18,190.00.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $36.46 on Tuesday. The business’s 50 day moving average price is $36.63 and its 200 day moving average price is $35.83. The company has a market cap of $482.73 million, a price-to-earnings ratio of 9.80 and a beta of 1.09. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $39.93.

Global Medical REIT (NYSE:XRN) last issued its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (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 during the quarter. On average, research analysts predict that Global Medical REIT Inc. will post 2.89 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on XRN. BMO Capital Markets raised their price objective 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. Citizens Jmp increased 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. Raymond James Financial initiated 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 raised shares of Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Compass Point reiterated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Global Medical REIT presently has an average rating of “Hold” and an average price target of $40.25.

Institutional Trading of Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of XRN. Heartland Advisors Inc. boosted its stake in Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after buying an additional 270,786 shares during the period. Strs Ohio purchased a new stake in shares of Global Medical REIT in the 1st quarter valued at approximately $95,000. State of Wyoming lifted its holdings in shares of Global Medical REIT by 71.3% in the 2nd quarter. State of Wyoming now owns 12,656 shares of the company’s stock worth $88,000 after acquiring an additional 5,266 shares during the last quarter. Virtus Advisers LLC lifted 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 acquiring an additional 768 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Global Medical REIT during the 2nd quarter worth approximately $78,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.