Global Medical REIT Inc. (NYSE:XRN – Get Free Report) CIO Matthew Fitzsimmons Whitlock bought 500 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was acquired at an average cost of $37.21 per share, for a total transaction of $18,605.00. Following the purchase, the executive owned 1,500 shares of the company’s stock, valued at $55,815. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Matthew Fitzsimmons Whitlock also recently made the following trade(s):
- On Monday, August 17th, Matthew Fitzsimmons Whitlock purchased 500 shares of Global Medical REIT stock. The shares were acquired at an average price of $36.38 per share, with a total value of $18,190.00.
Global Medical REIT Stock Down 0.3%
Shares of XRN opened at $36.27 on Wednesday. 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 company has a 50-day moving average price of $36.61 and a two-hundred day moving average price of $35.84. The stock has a market cap of $480.23 million, a price-to-earnings ratio of 9.75 and a beta of 1.09. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93.
Global Medical REIT Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be given a $0.16 dividend. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s dividend payout ratio is 51.61%.
Institutional Trading of Global Medical REIT
A number of large investors have recently added to or reduced their stakes in the company. Marshall Wace LLP increased its position in shares of Global Medical REIT by 0.8% in the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company’s stock worth $1,290,000 after purchasing an additional 308 shares during the period. Daiwa Securities Group Inc. lifted its position in Global Medical REIT by 7.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company’s stock worth $163,000 after purchasing an additional 332 shares during the period. Fifth Third Bancorp grew its stake in Global Medical REIT by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after buying an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in Global Medical REIT by 1,001.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after buying an additional 721 shares in the last quarter. Finally, Virtus Advisers LLC increased its holdings in Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after buying an additional 768 shares during the period. Institutional investors and hedge funds own 57.52% of the company’s stock.
Analyst Ratings Changes
XRN has been the subject of a number of recent analyst reports. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Raymond James Financial initiated coverage on Global Medical REIT in a report 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, Citizens Jmp raised their price target on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a research report on Tuesday, May 26th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.25.
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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