Global Medical REIT (NYSE:XRN) Coverage Initiated by Analysts at Huntington

Key Points

• Huntington initiated coverage of Global Medical REIT with a “hold” rating. Across analysts, the stock has a consensus “hold” rating and an average price target of $40.17.
• Shares were reported down 5.5%, opening at $29.88, below their 50-day and 200-day moving averages. The company’s latest quarterly EPS of ($0.67) missed the consensus estimate of $0.55.
• Company insiders purchased 71,525 shares worth about $2.58 million over the last quarter, including purchases by CEO Mark Okey Decker Jr. and director Charles Fitzgerald.

Investment analysts at Huntington initiated coverage on shares of Global Medical REIT (NYSE:XRN - Get Free Report) in a report released on Wednesday, Zacks reports. The firm set a "hold" rating on the stock.

A number of other research analysts have also recently issued reports on XRN. 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. Wall Street Zen lowered Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Saturday, October 10th. Cantor Fitzgerald assumed coverage on Global Medical REIT in a research report on Monday, September 21st. They set an "overweight" rating and a $43.00 price target on the stock. BMO Capital Markets raised their price target on Global Medical REIT from $39.00 to $40.00 and gave the company a "market perform" rating in a report on Monday, July 13th. Finally, Zacks Research upgraded Global Medical REIT to a "hold" rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to MarketBeat, Global Medical REIT currently has an average rating of "Hold" and a consensus target price of $40.17.

Global Medical REIT Trading Down 5.5%

Shares of XRN opened at $29.88 on Wednesday. The stock's 50-day moving average price is $33.74 and its 200 day moving average price is $35.34. 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 has a 12-month low of $28.09 and a 12-month high of $38.65. The firm has a market capitalization of $395.64 million, a price-to-earnings ratio of 8.86 and a beta of 1.10.

Global Medical REIT (NYSE:XRN - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.67) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($1.22). The business had revenue of $40.34 million during the quarter. Global Medical REIT had a return on equity of 13.65% and a net margin of 36.80%. As a group, research analysts predict that Global Medical REIT will post 2.89 earnings per share for the current year.

Insider Activity at Global Medical REIT

In related news, Director Charles Fitzgerald acquired 14,000 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was purchased at an average price of $35.78 per share, for a total transaction of $500,920.00. Following the transaction, the director directly owned 138,893 shares of the company's stock, valued at approximately $4,969,591.54. This trade represents a 11.21% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark Okey Decker, Jr. acquired 6,875 shares of Global Medical REIT stock in a transaction on Tuesday, August 11th. The shares were purchased at an average cost of $35.92 per share, for a total transaction of $246,950.00. Following the acquisition, the chief executive officer owned 75,199 shares in the company, valued at approximately $2,701,148.08. This represents a 10.06% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 71,525 shares of company stock valued at $2,579,304 over the last quarter. Corporate insiders own 8.90% of the company's stock.

Global Medical REIT Company Profile

Global Medical REIT, Inc is a real estate investment trust focused on owning and operating healthcare facilities in the United States. The company primarily invests in medical office buildings and other outpatient healthcare properties that are leased to physician groups, regional and national healthcare systems, and other healthcare providers.

Its portfolio is generally supported by long-term, often triple-net leases, under which tenants typically pay property taxes, insurance, and maintenance expenses in addition to rent.

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