Insider Buying: Global Medical REIT (NYSE:XRN) CIO Buys $18,190.00 in Stock

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock bought 500 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were acquired at an average price of $36.38 per share, with a total value of $18,190.00. Following the purchase, the executive owned 2,000 shares of the company’s stock, valued at $72,760. The trade was a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Friday, August 14th, Matthew Fitzsimmons Whitlock purchased 500 shares of Global Medical REIT stock. The stock was acquired at an average cost of $37.21 per share, with a total value of $18,605.00.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $36.88 on Thursday. The firm has a market capitalization of $488.28 million, a P/E ratio of 9.91 and a beta of 1.09. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $39.93. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. The firm’s 50 day moving average is $36.61 and its two-hundred day moving average is $35.86.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping 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 net margin of 36.82% and a return on equity of 13.31%. Research analysts forecast that Global Medical REIT Inc. will post 2.89 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be given a $0.16 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT’s dividend payout ratio (DPR) is 51.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on XRN shares. Compass Point reissued a “neutral” rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Raymond James Financial began coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating on the stock. Zacks Research raised Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Finally, Citizens Jmp upped their target price on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.25.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors have recently modified their holdings of the business. Invesco Ltd. raised its position in Global Medical REIT by 4.2% in the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock valued at $10,474,000 after purchasing an additional 12,471 shares during the last quarter. Mackenzie Financial Corp acquired a new stake in Global Medical REIT during the 4th quarter worth $563,000. XTX Topco Ltd purchased a new position in Global Medical REIT during the 4th quarter worth $515,000. Tudor Investment Corp ET AL purchased a new position in Global Medical REIT during the 4th quarter worth $930,000. Finally, 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 valued at $496,000 after purchasing an additional 3,504 shares during the period. 57.52% of the stock is owned by institutional investors and hedge funds.

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.