Global Medical REIT (NYSE:XRN) Director Charles Fitzgerald Acquires 14,000 Shares

Key Points

• Director Charles Fitzgerald bought 14,000 Global Medical REIT shares at an average $35.78 per share, investing $500,920 and increasing his direct holdings by 11.21% to 138,893 shares. He also purchased 27,600 shares the previous day.
• Global Medical REIT reported quarterly EPS of $4.78, exceeding analyst expectations of $0.83, on revenue of $39.75 million. The stock opened at $36.43, with a market capitalization of approximately $482 million.
• Analyst sentiment remains mixed, with ratings ranging from sell to market outperform; the consensus rating is Hold and the average price target is $40.25.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) Director Charles Fitzgerald bought 14,000 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were bought at an average cost of $35.78 per share, for a total transaction of $500,920.00. Following the completion of the acquisition, the director directly owned 138,893 shares in the company, valued at approximately $4,969,591.54. This trade represents a 11.21% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Charles Fitzgerald also recently made the following trade(s):

• On Monday, August 10th, Charles Fitzgerald bought 27,600 shares of Global Medical REIT stock. The shares were acquired at an average cost of $35.94 per share, with a total value of $991,944.00.

Global Medical REIT Stock Performance

NYSE:XRN opened at $36.43 on Thursday. The firm has a market capitalization of $482.33 million, a P/E ratio of 9.79 and a beta of 1.09. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. The company has a fifty day moving average of $36.57 and a 200-day moving average of $35.79. 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 issued its earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, beating the consensus estimate of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.74% and a net margin of 36.82%.The company had revenue of $39.75 million during the quarter. As a group, sell-side analysts anticipate that Global Medical REIT Inc. will post 3.06 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd lifted its stake in shares of Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company's stock worth $27,000 after buying an additional 721 shares in the last quarter. Fifth Third Bancorp lifted its stake in Global Medical REIT by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock valued at $48,000 after acquiring an additional 370 shares during the period. Tower Research Capital LLC TRC grew its stake 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 worth $51,000 after acquiring an additional 3,046 shares during the period. B. Riley Wealth Advisors Inc. purchased a new position in shares of Global Medical REIT during the second quarter valued at approximately $78,000. Finally, Virtus Advisers LLC lifted its position in 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 period. 57.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XRN. Wall Street Zen cut Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Zacks Research raised Global Medical REIT to a "hold" rating in a report on Wednesday, July 22nd. Citizens Jmp increased their price target 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 downgraded Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, July 30th. Finally, Raymond James Financial initiated coverage on Global Medical REIT in a research report on Wednesday, June 17th. They issued a "market perform" rating for the company. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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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