Brokerages Set Global Medical REIT Inc. (NYSE:XRN) Price Target at $42.00

Global Medical REIT Inc. (NYSE:XRN) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.00.

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.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in Global Medical REIT by 9.5% during the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after buying an additional 5,062 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 acquiring an additional 23,920 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock worth $3,400,000 after acquiring an additional 45,243 shares in the last quarter. Strs Ohio acquired a new position in shares of Global Medical REIT during the 1st quarter valued at about $95,000. Finally, Envestnet Asset Management Inc. raised its stake in shares of Global Medical REIT by 39.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after acquiring an additional 7,536 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Stock Up 0.3%

XRN opened at $32.39 on Friday. Global Medical REIT has a fifty-two week low of $29.05 and a fifty-two week high of $44.40. The business has a 50-day moving average of $35.74 and a 200-day moving average of $34.29. 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 company has a market capitalization of $428.53 million, a PE ratio of -35.99 and a beta of 1.16.

Global Medical REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 20th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. Global Medical REIT’s dividend payout ratio (DPR) is currently -333.33%.

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.