Global Medical REIT (NYSE:XRN) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Global Medical REIT from “hold” to “sell.” Other analysts remain more favorable, with three buy ratings and seven holds; the consensus rating is “Hold” with a $40.17 target price.
• Global Medical REIT shares opened at $33.64, down 1.3%, with a market capitalization of about $445 million. The stock’s 52-week range is $29.05 to $38.65.
• Insiders bought 71,525 shares worth approximately $2.58 million over the past three months, while institutional investors own 57.52% of the company.

Global Medical REIT (NYSE:XRN - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

XRN has been the subject of several other research reports. Cantor Fitzgerald assumed coverage on shares of Global Medical REIT in a research report on Monday, September 21st. They set an "overweight" rating and a $43.00 price objective for the company. BMO Capital Markets increased their price target on Global Medical REIT from $39.00 to $40.00 and gave the stock a "market perform" rating in a report on Monday, July 13th. Huntington assumed coverage on Global Medical REIT in a report on Thursday, September 10th. They issued a "market perform" rating and a $37.00 target price on the stock. Weiss Ratings raised shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, August 13th. Finally, Zacks Research upgraded shares of Global Medical REIT to a "hold" rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $40.17.

Global Medical REIT Trading Down 1.3%

NYSE:XRN opened at $33.64 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market cap of $445.39 million, a P/E ratio of 9.04 and a beta of 1.12. The firm's fifty day moving average is $36.01 and its 200-day moving average is $35.87. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $38.65.

Global Medical REIT (NYSE:XRN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $39.75 million during the quarter. Equities analysts expect that Global Medical REIT will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other Global Medical REIT news, COO Aaron Roseth acquired 13,500 shares of Global Medical REIT stock in a transaction on Wednesday, August 12th. The stock was purchased at an average price of $36.73 per share, for a total transaction of $495,855.00. Following the purchase, the chief operating officer directly owned 13,500 shares of the company's stock, valued at $495,855. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Fitzgerald bought 14,000 shares of the firm's stock in a transaction dated Tuesday, August 11th. The shares were acquired at an average cost of $35.78 per share, with a total value of $500,920.00. Following the completion of the transaction, the director owned 138,893 shares in the company, valued at approximately $4,969,591.54. The trade was a 11.21% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders have acquired 71,525 shares of company stock worth $2,579,304. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Global Medical REIT stock. Clifford Capital Partners LLC grew its stake in shares of Global Medical REIT Inc. (NYSE:XRN - Free Report) by 31.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,694 shares of the company's stock after acquiring an additional 3,504 shares during the period. Clifford Capital Partners LLC owned about 0.11% of Global Medical REIT worth $496,000 at the end of the most recent reporting period. 57.52% of the stock is owned by institutional investors.

About Global Medical REIT

Global Medical REIT Inc was a healthcare-focused real estate investment trust that owned and operated income-producing medical properties. The company primarily invested in outpatient medical office buildings, specialty facilities and other healthcare-related real estate leased to healthcare providers, physician groups and hospital systems.

Its portfolio historically included properties across the United States, with tenants providing services such as primary care, specialty care, diagnostic testing, surgery and rehabilitation.

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