Jamie Allen Barber Buys 1,481 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) General Counsel Jamie Allen Barber acquired 1,481 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $33.50 per share, for a total transaction of $49,613.50. Following the purchase, the general counsel directly owned 1,481 shares in the company, valued at approximately $49,613.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Global Medical REIT Stock Performance

Shares of XRN opened at $34.56 on Friday. The firm’s 50 day moving average is $34.98 and its 200-day moving average is $34.47. The stock has a market capitalization of $457.16 million, a P/E ratio of -31.13 and a beta of 1.11. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.61. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93.

Global Medical REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be given a $0.16 dividend. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is -270.27%.

Analysts Set New Price Targets

Several research firms have recently weighed in on XRN. Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Finally, Compass Point reissued a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $39.67.

Institutional Trading of Global Medical REIT

Several institutional investors have recently made changes to their positions in XRN. AQR Capital Management LLC boosted its holdings in shares of Global Medical REIT by 9.5% during the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after purchasing an additional 5,062 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Global Medical REIT by 23,920.0% during the first quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock worth $210,000 after purchasing an additional 23,920 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Global Medical REIT by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock worth $3,400,000 after purchasing an additional 45,243 shares during the period. Strs Ohio acquired a new stake in shares of Global Medical REIT during the first quarter worth approximately $95,000. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of Global Medical REIT by 39.5% during the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock worth $184,000 after purchasing an additional 7,536 shares during the period. 57.52% of the stock is currently owned by institutional investors and hedge funds.

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.