Global Medical REIT (NYSE:XRN) Shares Pass Below 200-Day Moving Average - Here's Why

Key Points

• Global Medical REIT (NYSE:XRN) passed below its 200-day moving average
• Analysts hold a consensus "Moderate Buy" with an average price target of $40.50 (ratings: 1 Strong Buy, 2 Buy, 2 Hold), and Weiss Ratings recently upgraded the stock from Sell to Hold.
• The company declared a monthly $0.25 dividend (ex‑div May 20, paid Jun 12) implying a 9.0% yield, but the payout ratio is negative (-333.33%), indicating earnings weakness underlying the high yield.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $34.16 and traded as low as $32.23. Global Medical REIT shares last traded at $33.19, with a volume of 99,750 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.50.

Global Medical REIT Trading Down 0.2%

The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.61 and a current ratio of 0.61. The stock has a market capitalization of $439.10 million, a price-to-earnings ratio of -36.88 and a beta of 1.16. The business has a fifty day simple moving average of $35.46 and a 200 day simple moving average of $34.16.

Global Medical REIT Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, June 12th. Investors of record on Wednesday, May 20th will be paid a $0.25 dividend. The ex-dividend date is Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 9.0%. Global Medical REIT's dividend payout ratio is -333.33%.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds have recently bought and sold shares of XRN. Peregrine Capital Management LLC acquired a new position in shares of Global Medical REIT during the 3rd quarter worth approximately $4,785,000. Heartland Advisors Inc. bought a new position in shares of Global Medical REIT during the third quarter worth approximately $5,147,000. Pensionfund PDN acquired a new stake in shares of Global Medical REIT in the fourth quarter valued at approximately $837,000. Greenland Capital Management LP acquired a new stake in shares of Global Medical REIT in the third quarter valued at approximately $285,000. Finally, Fifth Third Bancorp boosted its stake in shares of Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock valued at $48,000 after buying an additional 370 shares during the period. 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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