Global Medical REIT Inc. (NYSE:XRN) Stock Now Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts have a “Hold” consensus on Global Medical REIT: seven of nine analysts rate it Hold and two rate it Buy. Their average 12-month price target is $40.17.
• Company insiders bought 71,525 shares worth about $2.58 million over the past 90 days, including purchases by the CEO and a director.
• The REIT reported quarterly EPS of -$0.67, below the $0.55 consensus estimate, and revenue of $40.34 million. It also declared a monthly dividend of $0.16 per share, equivalent to a 6.7% annualized yield.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) has earned a consensus rating of "Hold" from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $40.17.

Several research firms have weighed in on XRN. Weiss Ratings raised shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Huntington started coverage on shares of Global Medical REIT in a research report on Wednesday. They set a "hold" rating on the stock. 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 research report on Monday, July 13th. Zacks Research upgraded Global Medical REIT to a "hold" rating in a research report on Wednesday, July 22nd. Finally, Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research note on Saturday, October 10th.

Insiders Place Their Bets

In other Global Medical REIT news, CEO Mark Okey Decker, Jr. purchased 8,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were acquired at an average cost of $35.88 per share, with a total value of $287,040.00. Following the completion of the acquisition, the chief executive officer directly owned 67,774 shares in the company, valued at $2,431,731.12. The trade was a 13.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles Fitzgerald acquired 27,600 shares of the company's stock in a transaction dated Monday, August 10th. The shares were bought at an average cost of $35.94 per share, for a total transaction of $991,944.00. Following the completion of the acquisition, the director directly owned 124,893 shares of the company's stock, valued at approximately $4,488,654.42. The trade was a 28.37% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 71,525 shares of company stock valued at $2,579,304 in the last 90 days. Corporate insiders own 8.90% of the company's stock.

Global Medical REIT Price Performance

XRN stock opened at $28.82 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 $381.64 million, a P/E ratio of 8.24 and a beta of 1.10. The stock's 50 day moving average price is $33.58 and its 200 day moving average price is $35.30. Global Medical REIT has a 1 year low of $28.09 and a 1 year high of $38.65.

Global Medical REIT (NYSE:XRN - Get Free Report) last issued its quarterly earnings data on Wednesday, November 4th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of $0.55 by ($1.22). Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. The firm had revenue of $40.34 million during the quarter. On average, sell-side analysts expect that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be paid a dividend of $0.16 per share. This represents a $1.92 annualized dividend and a yield of 6.7%. The ex-dividend date of this dividend is Friday, November 20th. Global Medical REIT's dividend payout ratio (DPR) is presently 51.61%.

About Global Medical REIT

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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