Paula Crowley Acquires 1,000 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) Director Paula Crowley bought 1,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were acquired at an average cost of $34.00 per share, for a total transaction of $34,000.00. Following the transaction, the director directly owned 1,000 shares in the company, valued at approximately $34,000. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Global Medical REIT Stock Down 1.1%

XRN stock traded down $0.37 during trading on Monday, hitting $33.62. 656,684 shares of the company’s stock were exchanged, compared to its average volume of 125,620. The business has a 50-day moving average price of $35.08 and a two-hundred day moving average price of $34.42. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $444.74 million, a price-to-earnings ratio of -30.28 and a beta of 1.11. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93.

Global Medical REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.16 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s payout ratio is currently -270.27%.

Institutional Investors Weigh In On Global Medical REIT

Several large investors have recently modified their holdings of XRN. AQR Capital Management LLC raised its position in Global Medical REIT by 9.5% in the 1st 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 last quarter. Jones Financial Companies Lllp grew its position in Global Medical REIT by 23,920.0% during the 1st 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 last quarter. Goldman Sachs Group Inc. increased its stake in Global Medical REIT by 13.2% in the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after purchasing an additional 45,243 shares during the period. Strs Ohio acquired a new position in Global Medical REIT in the first quarter valued at $95,000. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Global Medical REIT by 39.5% in the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after buying an additional 7,536 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XRN has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Medical REIT in a research note on Monday, April 20th. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Compass Point reaffirmed a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.67.

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.