Global Medical REIT (NYSE:XRN) Stock Price Passes Below 200 Day Moving Average – Should You Sell?

Global Medical REIT Inc. (NYSE:XRN)’s share price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $34.16 and traded as low as $32.23. Global Medical REIT shares last traded at $33.19, with a volume of 99,750 shares trading hands.

Analyst Ratings Changes

Several research firms have recently commented on XRN. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, January 21st. Wall Street Zen raised Global Medical REIT from a “sell” rating to a “hold” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Global Medical REIT Stock Performance

The firm’s 50 day moving average is $35.46 and its 200-day moving average is $34.14. The stock has a market capitalization of $439.10 million, a price-to-earnings ratio of -36.88 and a beta of 1.16. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61.

Global Medical REIT Announces Dividend

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

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its holdings in Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares during the period. Fifth Third Bancorp purchased a new position in Global Medical REIT during the third quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new stake in Global Medical REIT in the third quarter valued at approximately $39,000. Tower Research Capital LLC TRC grew its holdings in Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Global Medical REIT in the second quarter valued at approximately $78,000. 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.