Matthew Fitzsimmons Whitlock Acquires 500 Shares of Global Medical REIT (NYSE:XRN) Stock

Key Points

• Insider buying: CIO Matthew Fitzsimmons Whitlock purchased 500 Global Medical REIT shares at an average of $36.38, increasing his holdings by 33.33% to 2,000 shares. He also bought 500 shares three days earlier.
• Stock and earnings: Shares fell 1.8% to $36.46, while the company reported quarterly EPS of $4.78, beating estimates of $0.83, on revenue of $39.75 million.
• Analyst sentiment remains cautious: The stock has a consensus “Hold” rating from analysts, with an average price target of $40.25. Institutional investors own 57.52% of the company.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) CIO Matthew Fitzsimmons Whitlock acquired 500 shares of the stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $36.38 per share, with a total value of $18,190.00. Following the completion of the purchase, the executive owned 2,000 shares of the company's stock, valued at approximately $72,760. The trade was a 33.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Friday, August 14th, Matthew Fitzsimmons Whitlock bought 500 shares of Global Medical REIT stock. The stock was bought at an average price of $37.21 per share, for a total transaction of $18,605.00.

Global Medical REIT Stock Down 1.8%

Global Medical REIT stock traded down $0.65 during trading on Monday, hitting $36.46. 74,731 shares of the company were exchanged, compared to its average volume of 120,286. The business's 50 day moving average is $36.62 and its 200 day moving average is $35.82. Global Medical REIT Inc. has a 52 week low of $29.05 and a 52 week high of $39.93. The company has a market capitalization of $482.66 million, a P/E ratio of 9.80 and a beta of 1.09. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37.

Global Medical REIT (NYSE:XRN - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.31% and a net margin of 36.82%.The business had revenue of $39.75 million during the quarter. Analysts predict that Global Medical REIT Inc. will post 2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on XRN shares. Raymond James Financial started coverage on shares of Global Medical REIT in a research report on Wednesday, June 17th. They set a "market perform" rating on the stock. Wall Street Zen cut shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Compass Point reaffirmed a "neutral" rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Citizens Jmp boosted their price objective on Global Medical REIT from $40.00 to $42.00 and gave the stock a "market outperform" rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $40.25.

Hedge Funds Weigh In On Global Medical REIT

Institutional investors and hedge funds have recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Global Medical REIT by 30.5% during the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company's stock valued at $10,524,000 after buying an additional 355,355 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Global Medical REIT by 8.6% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,514,954 shares of the company's stock valued at $10,499,000 after purchasing an additional 119,538 shares during the period. Man Group plc boosted its holdings in Global Medical REIT by 1.7% in the 2nd quarter. Man Group plc now owns 600,943 shares of the company's stock worth $4,165,000 after buying an additional 10,192 shares during the period. Heartland Advisors Inc. grew its stake in Global Medical REIT by 177.4% in the 4th quarter. Heartland Advisors Inc. now owns 423,460 shares of the company's stock valued at $14,288,000 after buying an additional 270,786 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Global Medical REIT by 13.2% during the first quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company's stock worth $3,400,000 after acquiring an additional 45,243 shares in 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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