Global Medical REIT (NYSE:XRN) Given New $35.00 Price Target at Citizens Jmp

Global Medical REIT (NYSE:XRN) had its price objective lowered by Citizens Jmp from $42.00 to $35.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a market outperform rating on the stock.

Several other analysts have also issued reports on the company. Weiss Ratings lowered Global Medical REIT from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday. Cantor Fitzgerald initiated coverage on Global Medical REIT in a research note on Monday, September 21st. They issued an “overweight” rating and a $43.00 price target for the company. Huntington began coverage on Global Medical REIT in a research note on Wednesday, November 4th. They issued a “hold” rating for the company. Zacks Research raised Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, October 10th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $38.60.

Global Medical REIT Stock Up 1.2%

Shares of XRN stock opened at $26.97 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.59 and a debt-to-equity ratio of 1.44. Global Medical REIT has a 1 year low of $26.19 and a 1 year high of $38.65. The firm’s fifty day moving average price is $32.99 and its two-hundred day moving average price is $35.17. The firm has a market capitalization of $357.41 million, a P/E ratio of 7.47 and a beta of 1.10.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings results on Wednesday, November 4th. The company reported ($0.67) EPS for the quarter, missing the consensus estimate of $0.55 by ($1.22). Global Medical REIT had a return on equity of 13.35% and a net margin of 36.80%. The business had revenue of $40.34 million for the quarter. On average, equities analysts predict that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, November 20th will be given a $0.16 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 7.1%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio (DPR) is 54.86%.

About Global Medical REIT

Global Medical REIT, Inc. is a healthcare-focused real estate investment trust that acquires and owns purpose-built medical facilities. It leases these properties to healthcare providers, including physician groups and health systems, that use them to deliver patient care. The company’s properties include medical office buildings, specialty hospitals, ambulatory surgery centers and inpatient rehabilitation facilities. Its leases are generally structured to provide long-term occupancy for tenants while supporting the company’s rental-income business.