Global Medical REIT Inc. (NYSE:XRN) Receives $42.00 Average PT from Brokerages

Global Medical REIT Inc. (NYSE:XRN) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $42.00.

Separately, Weiss Ratings upgraded Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st.

Global Medical REIT Stock Performance

Shares of XRN stock opened at $32.97 on Friday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61. The firm has a market cap of $436.19 million, a P/E ratio of -36.63 and a beta of 1.16. The firm’s 50 day moving average price is $35.61 and its 200-day moving average price is $34.21. Global Medical REIT has a one year low of $29.05 and a one year high of $44.40.

Global Medical REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Wednesday, May 20th will be issued a dividend of $0.25 per share. This represents a c) dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Wednesday, May 20th. Global Medical REIT’s dividend payout ratio (DPR) is -333.33%.

Institutional Trading of Global Medical REIT

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its position in shares of Global Medical REIT by 1,001.4% during the third 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 in the last quarter. Fifth Third Bancorp acquired a new position in shares of Global Medical REIT in the third quarter valued at approximately $35,000. New York State Teachers Retirement System purchased a new stake in Global Medical REIT during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC increased its stake in Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after buying an additional 3,046 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in Global Medical REIT during the 2nd quarter worth approximately $78,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

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.