Global Medical REIT (NYSE:XRN) Given "Neutral" Rating at Compass Point

Key Points

• Research firm Compass Point restated a Neutral rating on Global Medical REIT and cut its price target to $38 (from $50), implying about a 6.7% upside from current levels.
• Analysts' consensus is a Moderate Buy with an average target of $39.67, while shares trade near $35.60 (market cap ≈ $471M) and the company shows a negative PE and a debt-to-equity ratio around 1.62.

Global Medical REIT (NYSE:XRN - Get Free Report)'s stock had its "neutral" rating restated by research analysts at Compass Point in a report issued on Thursday,Benzinga reports. They currently have a $38.00 target price on the stock, down from their prior target price of $50.00. Compass Point's target price points to a potential upside of 6.73% from the company's current price.

A number of other equities analysts have also commented on the stock. Weiss Ratings restated a "hold (c-)" rating on shares of Global Medical REIT in a research report on Monday, April 20th. Wall Street Zen upgraded shares of Global Medical REIT from a "sell" rating to a "hold" rating in a research report on Saturday, April 4th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Global Medical REIT presently has a consensus rating of "Moderate Buy" and an average price target of $39.67.

Global Medical REIT Price Performance

NYSE:XRN opened at $35.60 on Thursday. The firm has a market cap of $471.04 million, a PE ratio of -39.56 and a beta of 1.11. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $39.93. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62. The company's 50-day moving average price is $35.24 and its two-hundred day moving average price is $34.39.

Hedge Funds Weigh In On Global Medical REIT

A number of institutional investors have recently modified their holdings of the stock. Marshall Wace LLP raised its stake in shares of Global Medical REIT by 0.8% during the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company's stock worth $1,290,000 after buying an additional 308 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Global Medical REIT by 7.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company's stock worth $163,000 after buying an additional 332 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Global Medical REIT by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock worth $48,000 after buying an additional 370 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Global Medical REIT by 1,001.4% during 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 during the last quarter. Finally, Virtus Advisers LLC raised its stake 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 worth $82,000 after buying an additional 768 shares during the last quarter. 57.52% of the stock is owned by 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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