Charles Fitzgerald Acquires 27,600 Shares of Global Medical REIT (NYSE:XRN) Stock

Key Points

• Director Charles Fitzgerald purchased 27,600 Global Medical REIT shares at an average price of $35.94, investing nearly $992,000 and increasing his direct ownership by 28.37% to 124,893 shares.
• Global Medical REIT reported quarterly EPS of $4.78, surpassing the $0.83 consensus estimate, on revenue of $39.75 million; analysts expect full-year EPS of $3.06.
• XRN trades near $35.15, while analysts maintain a consensus “Hold” rating with an average price target of $40.25. Institutional investors own 57.52% of the company.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) Director Charles Fitzgerald bought 27,600 shares of the firm's stock in a transaction dated Monday, August 10th. The shares were acquired at an average price of $35.94 per share, for a total transaction of $991,944.00. Following the transaction, the director directly owned 124,893 shares in the company, valued at approximately $4,488,654.42. This represents a 28.37% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Global Medical REIT Stock Performance

XRN opened at $35.15 on Wednesday. The firm's fifty day simple moving average is $36.54 and its two-hundred day simple moving average is $35.79. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93. The company has a market cap of $464.97 million, a price-to-earnings ratio of 9.45 and a beta of 1.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

Global Medical REIT (NYSE:XRN - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share for the quarter, topping the consensus estimate of $0.83 by $3.95. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.74%. The firm had revenue of $39.75 million during the quarter. Equities analysts anticipate that Global Medical REIT Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Trading of Global Medical REIT

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd boosted its holdings in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company's stock valued at $27,000 after acquiring an additional 721 shares during the period. Fifth Third Bancorp boosted its stake in shares of Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock valued at $48,000 after purchasing an additional 370 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company's stock valued at $51,000 after purchasing an additional 3,046 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Global Medical REIT during the 2nd quarter worth approximately $78,000. Finally, Virtus Advisers LLC lifted its holdings in Global Medical REIT by 46.5% during the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company's stock worth $82,000 after buying an additional 768 shares in the last quarter. Hedge funds and other institutional investors own 57.52% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on XRN shares. BMO Capital Markets boosted their price target on shares of Global Medical REIT from $39.00 to $40.00 and gave the stock a "market perform" rating in a research report on Monday, July 13th. Wall Street Zen downgraded Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Saturday, May 9th. Compass Point restated a "neutral" rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Weiss Ratings lowered shares of Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, July 30th. Finally, Zacks Research upgraded shares of Global Medical REIT to a "hold" rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $40.25.

Global Medical REIT Company Profile

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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