Global Medical REIT (NYSE:XRN) CEO Mark Okey Decker Jr Buys 550 Shares

Key Points

• CEO Mark Okey Decker Jr. bought 550 shares of Global Medical REIT at $36 per share, investing $19,800 and increasing his direct stake by 0.81% to 68,324 shares.
• Global Medical REIT reported quarterly EPS of $4.78, beating analysts’ $0.83 consensus estimate, on revenue of $39.75 million. The stock opened at $36.43 and has a one-year range of $29.05 to $39.93.
• Analyst sentiment remains broadly cautious, with an average “Hold” rating and a $40.25 consensus price target; institutional investors own 57.52% of the company.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) CEO Mark Okey Decker, Jr. bought 550 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was purchased at an average price of $36.00 per share, with a total value of $19,800.00. Following the completion of the purchase, the chief executive officer directly owned 68,324 shares of the company's stock, valued at approximately $2,459,664. This trade represents a 0.81% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Global Medical REIT Trading Up 3.8%

NYSE:XRN opened at $36.43 on Thursday. 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 Inc. has a one year low of $29.05 and a one year high of $39.93. The business's 50-day simple moving average is $36.57 and its 200 day simple moving average is $35.79. The stock has a market cap of $482.33 million, a price-to-earnings ratio of 9.79 and a beta of 1.09.

Global Medical REIT (NYSE:XRN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter. As a group, sell-side analysts predict that Global Medical REIT Inc. will post 3.06 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on XRN shares. Compass Point reissued a "neutral" rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Zacks Research upgraded shares of Global Medical REIT to a "hold" rating in a research report on Wednesday, July 22nd. Weiss Ratings lowered shares of Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, July 30th. Raymond James Financial assumed coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They issued a "market perform" rating on the stock. Finally, Wall Street Zen lowered Global Medical REIT from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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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