Insider Buying: Global Medical REIT (NYSE:XRN) Director Acquires $34,000.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) Director Paula Crowley acquired 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $34.00 per share, for a total transaction of $34,000.00. Following the acquisition, the director directly owned 1,000 shares in the company, valued at $34,000. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Global Medical REIT Stock Performance

Shares of XRN stock opened at $34.35 on Thursday. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month 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 0.61. The firm has a market capitalization of $454.56 million, a P/E ratio of -30.94 and a beta of 1.11. The company’s fifty day moving average price is $35.01 and its two-hundred day moving average price is $34.46.

Global Medical REIT Dividend Announcement

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

Institutional Investors Weigh In On Global Medical REIT

A number of institutional investors have recently modified their holdings of XRN. AQR Capital Management LLC grew its position in shares of Global Medical REIT by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after buying an additional 5,062 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after buying an additional 23,920 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Global Medical REIT by 13.2% during the 1st 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. Strs Ohio bought a new position in Global Medical REIT in the 1st quarter worth about $95,000. Finally, Envestnet Asset Management Inc. grew its position in Global Medical REIT by 39.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock worth $184,000 after purchasing an additional 7,536 shares during the last quarter. Institutional investors own 57.52% of the company’s stock.

Wall Street Analyst Weigh In

XRN has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Compass Point restated a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Global Medical REIT currently has a consensus rating of “Moderate Buy” and an average price target of $39.67.

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.