Global Medical REIT (NYSE:XRN – Get Free Report) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
Other equities research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a research report on Thursday, August 13th. Huntington initiated coverage on shares of Global Medical REIT in a report on Thursday. They issued a “market perform” rating and a $37.00 target price on the stock. Raymond James Financial began coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating for the company. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Finally, BMO Capital Markets lifted their price target on shares of Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Global Medical REIT presently has an average rating of “Hold” and a consensus target price of $39.60.
Check Out Our Latest Analysis on XRN
Global Medical REIT Stock Performance
Global Medical REIT (NYSE:XRN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%.The company had revenue of $39.75 million during the quarter. On average, research analysts anticipate that Global Medical REIT will post 2.89 earnings per share for the current year.
Insider Activity at Global Medical REIT
In other news, CEO Mark Decker, Jr. bought 6,875 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were purchased at an average price of $35.92 per share, with a total value of $246,950.00. Following the purchase, the chief executive officer owned 75,199 shares in the company, valued at approximately $2,701,148.08. The trade was a 10.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Aaron Roseth bought 13,500 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average price of $36.73 per share, with a total value of $495,855.00. Following the completion of the acquisition, the chief operating officer directly owned 13,500 shares in the company, valued at $495,855. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have bought 71,525 shares of company stock worth $2,579,304. 8.90% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC increased its stake in Global Medical REIT by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after buying an additional 5,062 shares during the period. Jones Financial Companies Lllp lifted its holdings in Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock worth $210,000 after buying an additional 23,920 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Global Medical REIT by 13.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after buying an additional 45,243 shares during the period. Strs Ohio purchased a new position in Global Medical REIT in the 1st quarter valued at approximately $95,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Global Medical REIT by 39.5% in the second quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock worth $184,000 after acquiring an additional 7,536 shares in 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.
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