Mark Okey Decker, Jr. Acquires 5,000 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. acquired 5,000 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $33.94 per share, with a total value of $169,700.00. Following the transaction, the chief executive officer owned 59,774 shares in the company, valued at $2,028,729.56. This represents a 9.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Global Medical REIT Trading Up 1.7%

Global Medical REIT stock traded up $0.57 during mid-day trading on Tuesday, hitting $34.11. 422,301 shares of the company’s stock were exchanged, compared to its average volume of 119,647. The company’s 50 day simple moving average is $35.08 and its 200-day simple moving average is $34.42. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $451.21 million, a P/E ratio of -30.73 and a beta of 1.11. Global Medical REIT Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $39.93.

Global Medical REIT Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be paid a dividend of $0.16 per share. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio is presently -270.27%.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XRN. AQR Capital Management LLC raised its position in shares of Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after purchasing an additional 5,062 shares during the period. Jones Financial Companies Lllp grew its stake in Global Medical REIT by 23,920.0% in the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after buying an additional 23,920 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Global Medical REIT by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after acquiring an additional 45,243 shares during the period. Strs Ohio acquired a new stake in Global Medical REIT during the 1st quarter worth approximately $95,000. Finally, Envestnet Asset Management Inc. increased its position in Global Medical REIT by 39.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock worth $184,000 after buying an additional 7,536 shares during the period. 57.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

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.