Global Medical REIT (NYSE:XRN) CEO Buys $287,040.00 in Stock

Key Points

• CEO Mark Okey Decker Jr. purchased 8,000 shares of Global Medical REIT at an average price of $35.88, spending $287,040 and increasing his ownership by 13.38% to 67,774 shares.
• Global Medical REIT reported quarterly EPS of $4.78, surpassing analysts’ $0.83 consensus estimate, on revenue of $39.75 million.
• Shares opened at $35.15 after falling 2%, while analysts maintained a consensus “Hold” rating with a $40.25 target price; institutional investors own 57.52% of the company.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) CEO Mark Okey Decker, Jr. bought 8,000 shares of the company's stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average price of $35.88 per share, for a total transaction of $287,040.00. Following the acquisition, the chief executive officer owned 67,774 shares of the company's stock, valued at $2,431,731.12. This trade represents a 13.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Global Medical REIT Trading Down 2.0%

Shares of XRN stock opened at $35.15 on Wednesday. The company has a market cap of $464.97 million, a P/E ratio of 9.45 and a beta of 1.09. Global Medical REIT Inc. has a fifty-two week low of $29.05 and a fifty-two week high of $39.93. The stock has a 50 day simple moving average of $36.54 and a two-hundred day simple moving average of $35.79. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XRN. Zacks Research upgraded Global Medical REIT to a "hold" rating in a report on Wednesday, July 22nd. Compass Point reissued a "neutral" rating and issued a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Citizens Jmp upped their price target on Global Medical REIT from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 26th. Raymond James Financial assumed coverage on shares of Global Medical REIT in a report on Wednesday, June 17th. They set a "market perform" rating on the stock. Finally, Wall Street Zen downgraded shares of Global Medical REIT from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $40.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its holdings in shares of Global Medical REIT by 1,001.4% in 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 period. Fifth Third Bancorp grew its stake in shares of Global Medical REIT by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock worth $48,000 after acquiring an additional 370 shares during the period. Virtus Advisers LLC increased its holdings in Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company's stock worth $82,000 after acquiring an additional 768 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Global Medical REIT in the 4th quarter valued at about $92,000. Finally, SG Americas Securities LLC purchased a new stake in Global Medical REIT during the fourth 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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