Insider Buying: Global Medical REIT (NYSE:XRN) Director Buys $991,944.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) Director Charles Fitzgerald purchased 27,600 shares of Global Medical REIT stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $35.94 per share, for a total transaction of $991,944.00. Following the transaction, the director directly owned 124,893 shares in the company, valued at $4,488,654.42. This represents a 28.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Global Medical REIT Stock Down 2.0%

Shares of Global Medical REIT stock opened at $35.15 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93. The company has a market capitalization of $464.97 million, a P/E ratio of 9.45 and a beta of 1.09. The company has a 50 day moving average of $36.54 and a 200 day moving average of $35.79.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $3.95. The company had revenue of $39.75 million for the quarter. Global Medical REIT had a return on equity of 13.74% and a net margin of 36.82%. As a group, research analysts forecast that Global Medical REIT Inc. will post 3.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

XRN has been the subject of several recent analyst reports. Raymond James Financial assumed coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating for the company. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Zacks Research upgraded Global Medical REIT to a “hold” rating in a research report on Wednesday, July 22nd. Citizens Jmp increased their target price on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research note on Tuesday, May 26th. Finally, Compass Point reaffirmed a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.25.

Institutional Trading of Global Medical REIT

Large investors have recently bought and sold shares of the company. Heartland Advisors Inc. grew its position 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 last quarter. Virtus Advisers LLC raised its position in shares of Global Medical REIT by 46.5% during the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after purchasing an additional 768 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in Global Medical REIT by 11.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after buying an additional 2,000 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in Global Medical REIT in the 4th quarter valued at approximately $92,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after buying an additional 721 shares during the last quarter. Institutional investors and hedge funds 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.