Global Medical REIT (NYSE:XRN) Director Matthew Cypher Acquires 1,420 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) Director Matthew Cypher purchased 1,420 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average price of $35.12 per share, with a total value of $49,870.40. Following the completion of the purchase, the director directly owned 1,690 shares of the company’s stock, valued at $59,352.80. The trade was a 525.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Global Medical REIT Stock Performance

Shares of NYSE:XRN opened at $33.54 on Friday. The firm has a market capitalization of $443.68 million, a PE ratio of -30.21 and a beta of 1.11. 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 business has a 50-day moving average of $34.93 and a two-hundred day moving average of $34.47. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93.

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. The ex-dividend date is Thursday, August 20th. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. Global Medical REIT’s dividend payout ratio (DPR) is -270.27%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Compass Point reiterated 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. Finally, Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Heartland Advisors Inc. purchased a new position in Global Medical REIT in the third quarter valued at about $5,147,000. Pensionfund PDN purchased a new position in Global Medical REIT in the fourth quarter valued at about $837,000. AQR Capital Management LLC boosted its holdings in Global Medical REIT by 9.5% in the first quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock valued at $512,000 after purchasing an additional 5,062 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Global Medical REIT in the fourth quarter valued at about $230,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Global Medical REIT by 39.5% in the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after purchasing an additional 7,536 shares during the last quarter. Hedge funds and other institutional investors own 57.52% of the company’s stock.

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.