Global Medical REIT (NYSE:XRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Medical REIT (NYSE:XRN) from a sell rating to a hold rating in a research report report published on Saturday.

Separately, Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $40.50.

Global Medical REIT Stock Up 0.5%

Shares of Global Medical REIT stock opened at $33.40 on Friday. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93. 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 stock’s 50-day moving average is $35.43 and its 200 day moving average is $34.07. The firm has a market cap of $441.92 million, a price-to-earnings ratio of -37.11 and a beta of 1.16.

Global Medical REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.25 per share. This represents a c) dividend on an annualized basis and a dividend yield of 9.0%. The ex-dividend date of this dividend is Wednesday, May 20th. Global Medical REIT’s dividend payout ratio is -333.33%.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently made changes to their positions in XRN. Gabelli Funds LLC bought a new position in shares of Global Medical REIT during the 2nd quarter worth about $2,829,000. Invesco Ltd. lifted its position in Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after acquiring an additional 355,355 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Global Medical REIT in the 3rd quarter valued at about $9,997,000. Marshall Wace LLP lifted its position in Global Medical REIT by 2,208.2% in 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 in the last quarter. Finally, Heartland Advisors Inc. lifted its position in 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 acquiring an additional 270,786 shares in the last quarter. Institutional investors 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.