Global Medical REIT Inc. (NYSE:XRN) Given Average Rating of "Hold" by Analysts

Key Points

• Global Medical REIT has an average analyst rating of "Hold" across eight covering firms, with a consensus 12-month target price of $40.00.
• Recent analyst actions were mixed but leaned cautious, including downgrades to sell from Wall Street Zen and Weiss Ratings, while Citizens JMP raised its target to $42 and kept an outperform rating.
• The company recently declared a monthly dividend of $0.16 per share, implying a 5.1% yield; insiders have also been buying shares, including the director and COO in May.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) has received an average recommendation of "Hold" from the eight ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $40.00.

Several research firms recently weighed in on XRN. Compass Point reaffirmed a "neutral" rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Citizens Jmp boosted their target price on shares of Global Medical REIT from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 26th. Weiss Ratings lowered Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Monday, May 11th. Finally, Raymond James Financial assumed coverage on Global Medical REIT in a report on Wednesday, June 17th. They issued a "market perform" rating for the company.

Global Medical REIT Stock Performance

NYSE XRN opened at $37.92 on Friday. 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 has a twelve month low of $29.05 and a twelve month high of $39.93. The business has a 50-day moving average price of $35.84 and a 200-day moving average price of $35.42. The firm has a market cap of $501.88 million, a price-to-earnings ratio of -34.16 and a beta of 1.10.

Global Medical REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be issued a dividend of $0.16 per share. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date is Thursday, August 20th. Global Medical REIT's dividend payout ratio is presently -172.97%.

Insider Buying and Selling at Global Medical REIT

In related news, Director Paula Crowley bought 1,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were acquired at an average cost of $34.00 per share, for a total transaction of $34,000.00. Following the purchase, the director directly owned 1,000 shares of the company's stock, valued at approximately $34,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Danica Holley acquired 1,490 shares of Global Medical REIT stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $33.99 per share, for a total transaction of $50,645.10. Following the completion of the acquisition, the chief operating officer directly owned 1,590 shares in the company, valued at $54,044.10. This trade represents a 1,490.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders purchased 10,974 shares of company stock valued at $373,826. 8.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd lifted its stake in shares of 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 worth $27,000 after purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp raised its holdings in Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock worth $48,000 after purchasing an additional 370 shares in the last quarter. Virtus Advisers LLC raised its holdings in Global Medical REIT by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company's stock worth $82,000 after purchasing an additional 768 shares in the last quarter. Eurizon Capital SGR S.p.A. purchased a new stake in shares of Global Medical REIT during the fourth quarter valued at about $92,000. Finally, SG Americas Securities LLC bought a new stake in shares of Global Medical REIT in the 4th quarter valued at about $121,000. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

About Global Medical REIT

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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