Global Medical REIT (NYSE:XRN) Upgraded at Zacks Research

Zacks Research upgraded shares of Global Medical REIT (NYSE:XRN) to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets boosted their price objective on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Citizens Jmp raised their target price on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, May 26th. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Raymond James Financial began coverage on Global Medical REIT in a report on Wednesday, June 17th. They set a “market perform” rating for the company. Finally, Compass Point reissued a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

Global Medical REIT Stock Up 0.4%

Global Medical REIT stock opened at $37.53 on Wednesday. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.68. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93. The firm’s fifty day simple moving average is $36.61 and its 200-day simple moving average is $35.74. The company has a market capitalization of $496.57 million, a P/E ratio of -33.81 and a beta of 1.10.

Global Medical REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. Global Medical REIT’s dividend payout ratio (DPR) is presently -172.97%.

Insider Activity

In other Global Medical REIT news, General Counsel Jamie Allen Barber acquired 1,481 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $33.50 per share, for a total transaction of $49,613.50. Following the transaction, the general counsel owned 1,481 shares in the company, valued at $49,613.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mark Okey Decker, Jr. acquired 5,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was acquired 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 approximately $2,028,729.56. The trade was a 9.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 10,974 shares of company stock worth $373,826 over the last ninety days. Corporate insiders own 8.90% of the company’s stock.

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors and hedge funds have recently made changes to their positions in XRN. Heartland Advisors Inc. increased its stake in shares of Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after acquiring an additional 270,786 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after acquiring an additional 721 shares during the last quarter. Clifford Capital Partners LLC boosted its stake in Global Medical REIT by 31.3% during the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after acquiring an additional 3,504 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Global Medical REIT by 11.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after purchasing an additional 2,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. acquired a new position in Global Medical REIT during the fourth quarter valued at approximately $92,000. Institutional investors own 57.52% of the company’s stock.

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.