Global Medical REIT (NYSE:XRN) Coverage Initiated at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald initiated coverage of Global Medical REIT with an “overweight” rating and a $43 price target, implying 19.64% upside from the prior close.
• Analyst sentiment remains mixed: the stock has three Buy ratings and seven Hold ratings, resulting in a consensus “Hold” rating and an average price target of $40.17.
• Insiders showed confidence by purchasing 71,525 shares worth approximately $2.58 million during the last quarter, while institutional investors own 57.52% of the company.

Research analysts at Cantor Fitzgerald initiated coverage on shares of Global Medical REIT (NYSE:XRN - Get Free Report) in a research report issued to clients and investors on Monday, Benzinga reports. The firm set an "overweight" rating and a $43.00 price target on the stock. Cantor Fitzgerald's price objective points to a potential upside of 19.64% from the company's previous close.

XRN has been the topic of a number of other reports. Weiss Ratings upgraded shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, August 13th. Huntington initiated coverage on shares of Global Medical REIT in a research note on Thursday, September 10th. They set a "market perform" rating and a $37.00 price target for the company. Citizens Jmp boosted their price target on Global Medical REIT from $40.00 to $42.00 and gave the company a "market outperform" rating in a report on Tuesday, May 26th. Wall Street Zen raised Global Medical REIT from a "sell" rating to a "hold" rating in a research note on Saturday, September 12th. Finally, BMO Capital Markets increased their price objective on Global Medical REIT from $39.00 to $40.00 and gave the stock a "market perform" rating in a research note on Monday, July 13th. Three analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.17.

Global Medical REIT Stock Performance

XRN stock opened at $35.94 on Monday. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $39.93. The firm has a market cap of $475.85 million, a price-to-earnings ratio of 9.66 and a beta of 1.10. The business's fifty day simple moving average is $36.65 and its two-hundred day simple moving average is $35.97. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37.

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 analysts' consensus estimates of $0.83 by $3.95. The firm had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. Analysts predict that Global Medical REIT will post 2.89 earnings per share for the current year.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, COO Aaron Roseth purchased 13,500 shares of Global Medical REIT stock in a transaction dated Wednesday, August 12th. The stock was acquired at an average price 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 $495,855. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Decker, Jr. purchased 8,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $35.88 per share, with a total value of $287,040.00. Following the transaction, the chief executive officer directly owned 67,774 shares in the company, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have acquired 71,525 shares of company stock valued at $2,579,304. Company insiders own 8.90% of the company's stock.

Institutional Trading of Global Medical REIT

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Clifford Capital Partners LLC raised its position in shares of Global Medical REIT by 31.3% in the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company's stock worth $496,000 after acquiring an additional 3,504 shares in the last quarter. Heartland Advisors Inc. boosted its position in Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company's stock valued at $14,288,000 after purchasing an additional 270,786 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Global Medical REIT by 11.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company's stock valued at $661,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Eurizon Capital SGR S.p.A. purchased a new position in Global Medical REIT in the fourth quarter valued at about $92,000. Institutional investors own 57.52% of the company's stock.

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.

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