Global Medical REIT (NYSE:XRN) COO Buys 1,490 Shares

Global Medical REIT Inc. (NYSE:XRN) COO Danica Holley purchased 1,490 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average cost of $33.99 per share, for a total transaction of $50,645.10. Following the purchase, the chief operating officer directly owned 1,590 shares in the company, valued at $54,044.10. This trade represents a 1,490.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Global Medical REIT Stock Up 1.7%

NYSE:XRN traded up $0.57 on Tuesday, reaching $34.11. The stock had a trading volume of 422,301 shares, compared to its average volume of 119,647. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.62. The company has a 50-day moving average of $35.08 and a 200 day moving average of $34.42. The stock has a market cap of $451.21 million, a P/E ratio of -30.73 and a beta of 1.11. Global Medical REIT Inc. has a 12-month low of $29.05 and a 12-month high of $39.93.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.16 per share. This represents a c) dividend on an annualized basis and a yield of 5.6%. The ex-dividend date is Thursday, August 20th. Global Medical REIT’s dividend payout ratio (DPR) is -270.27%.

Institutional Investors Weigh In On Global Medical REIT

Several large investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its position in shares of Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after acquiring an additional 355,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Global Medical REIT by 8.6% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company’s stock valued at $10,499,000 after purchasing an additional 119,538 shares during the period. Man Group plc grew its position in Global Medical REIT by 1.7% in the 2nd quarter. Man Group plc now owns 600,943 shares of the company’s stock worth $4,165,000 after purchasing an additional 10,192 shares during the last quarter. Heartland Advisors Inc. increased its stake in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after purchasing an additional 270,786 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Global Medical REIT by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after buying an additional 45,243 shares during the last quarter. 57.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Compass Point reaffirmed a “neutral” rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

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.