Global Medical REIT Inc. (NYSE:XRN) Receives $40.00 Consensus Target Price from Analysts

Shares of Global Medical REIT Inc. (NYSE:XRN) have been assigned an average rating of “Hold” from the seven brokerages that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $40.00.

A number of brokerages have recently weighed in on XRN. BMO Capital Markets raised their price objective on shares of Global Medical REIT from $33.00 to $39.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Citizens Jmp raised their price objective on shares of 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 lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Compass Point restated a “neutral” rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, May 11th.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $37.18 on Wednesday. The firm has a 50 day simple moving average of $35.36 and a 200-day simple moving average of $35.10. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68. The stock has a market cap of $491.84 million, a price-to-earnings ratio of -33.49 and a beta of 1.11.

Global Medical REIT Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Stockholders of record on Thursday, August 20th will be issued a $0.16 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is presently -270.27%.

Insiders Place Their Bets

In other news, Director Matthew Cypher acquired 1,420 shares of Global Medical REIT stock in a transaction dated Thursday, May 14th. The shares were acquired at an average cost of $35.12 per share, for a total transaction of $49,870.40. Following the acquisition, the director owned 1,690 shares of the company’s stock, valued at $59,352.80. This trade represents a 525.93% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Mark Okey Decker, Jr. purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $33.94 per share, for a total transaction of $169,700.00. Following the completion of the purchase, the chief executive officer directly owned 59,774 shares in the company, valued at $2,028,729.56. This represents a 9.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders acquired 10,974 shares of company stock worth $373,826. 8.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Invesco Ltd. grew its position in Global Medical REIT by 4.2% during the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after purchasing an additional 12,471 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Global Medical REIT in the fourth quarter valued at about $563,000. XTX Topco Ltd acquired a new stake in Global Medical REIT in the fourth quarter valued at about $515,000. Tudor Investment Corp ET AL acquired a new stake in Global Medical REIT in the fourth quarter valued at about $930,000. Finally, Clifford Capital Partners LLC lifted its position in Global Medical REIT by 31.3% in the fourth quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock valued at $496,000 after purchasing an additional 3,504 shares during the period. 57.52% of the stock is 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.