Global Medical REIT Inc. (NYSE:XRN) Given Consensus Rating of “Hold” by Analysts

Shares of Global Medical REIT Inc. (NYSE:XRN) have received an average recommendation of “Hold” from the nine research firms that are covering the firm, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $39.60.

A number of equities research analysts have recently commented on the company. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research note on Thursday, August 13th. Wall Street Zen raised Global Medical REIT from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. Huntington started coverage on shares of Global Medical REIT in a report on Thursday, September 10th. They set a “market perform” rating and a $37.00 target price for the company. Raymond James Financial began coverage on Global Medical REIT in a report on Wednesday, June 17th. They set a “market perform” rating for the company. Finally, Zacks Research raised Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd.

Global Medical REIT Stock Up 1.3%

Shares of XRN opened at $36.08 on Friday. The firm has a market cap of $477.70 million, a P/E ratio of 9.70 and a beta of 1.10. Global Medical REIT has a 1 year low of $29.05 and a 1 year high of $39.93. The stock has a 50 day simple moving average of $36.66 and a two-hundred day simple moving average of $35.97. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59.

Global Medical REIT (NYSE:XRN) last issued its earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The company had revenue of $39.75 million for the quarter. On average, analysts forecast that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 5.3%. Global Medical REIT’s dividend payout ratio (DPR) is currently 51.61%.

Insider Buying and Selling

In related news, COO Aaron Roseth purchased 13,500 shares of Global Medical REIT stock in a transaction on Wednesday, August 12th. The shares were bought at an average cost of $36.73 per share, for a total transaction of $495,855.00. Following the acquisition, the chief operating officer owned 13,500 shares in the company, valued at approximately $495,855. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Okey Decker, Jr. bought 6,875 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was acquired at an average cost of $35.92 per share, with a total value of $246,950.00. Following the completion of the acquisition, the chief executive officer owned 75,199 shares of the company’s stock, valued at $2,701,148.08. This represents a 10.06% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 71,525 shares of company stock worth $2,579,304. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Medical REIT

Several hedge funds and other institutional investors have recently modified their holdings of the business. Clifford Capital Partners LLC increased its stake 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 worth $496,000 after purchasing an additional 3,504 shares during the period. Heartland Advisors Inc. lifted its holdings in Global Medical REIT by 177.4% during the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock valued at $14,288,000 after buying an additional 270,786 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in Global Medical REIT by 11.4% during 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 about $92,000. Finally, Arrow Investment Advisors LLC grew its stake in Global Medical REIT by 339.7% in the 4th quarter. Arrow Investment Advisors LLC now owns 28,028 shares of the company’s stock worth $946,000 after acquiring an additional 21,654 shares in the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

About Global Medical REIT

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.