Global Medical REIT (NYSE:XRN) General Counsel Buys $49,613.50 in Stock

Global Medical REIT Inc. (NYSE:XRN – Get Free Report) General Counsel Jamie Allen Barber bought 1,481 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $33.50 per share, for a total transaction of $49,613.50. Following the purchase, the general counsel directly owned 1,481 shares of the company’s stock, valued at approximately $49,613.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Global Medical REIT Trading Down 3.0%

NYSE:XRN opened at $33.54 on Friday. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $39.93. The business’s 50-day moving average price is $34.93 and its two-hundred day moving average price is $34.47. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $443.68 million, a price-to-earnings ratio of -30.21 and a beta of 1.11.

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Global Medical REIT Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a c) annualized dividend and a yield of 5.7%. Global Medical REIT’s dividend payout ratio is presently -270.27%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on XRN. Weiss Ratings lowered Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Wall Street Zen lowered Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Compass Point reissued 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.67.

View Our Latest Stock Analysis on XRN

Institutional Investors Weigh In On Global Medical REIT

A number of hedge funds have recently modified their holdings of XRN. Invesco Ltd. raised its position in shares of Global Medical REIT by 30.5% during the second quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock worth $10,524,000 after purchasing an additional 355,355 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Global Medical REIT during the third quarter worth about $9,997,000. Marshall Wace LLP raised its position in shares of Global Medical REIT by 2,208.2% during the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after purchasing an additional 279,070 shares during the period. Heartland Advisors Inc. raised its position in shares of Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after purchasing an additional 270,786 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Global Medical REIT during the third quarter worth about $7,798,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

Global Medical REIT Company Profile

(Get Free Report)

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.

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