Global Medical REIT (NYSE:XRN) Stock Crosses Below 50 Day Moving Average - Time to Sell?

Key Points

• Global Medical REIT shares fell below their 50-day moving average, trading as low as $33.89 compared with a $36.34 average. The stock was last quoted near $34.42.
• Analysts maintain a consensus “Hold” rating, with three Buy ratings and seven Holds; the average price target is $40.17, including Cantor Fitzgerald’s $43 target.
• The company declared a monthly dividend of $0.16 per share, equivalent to a 5.6% annualized yield. Recent earnings beat estimates substantially, while insiders purchased 71,525 shares worth about $2.6 million in the latest quarter.

Global Medical REIT Inc. (NYSE:XRN - Get Free Report) crossed below its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $36.34 and traded as low as $33.89. Global Medical REIT shares last traded at $34.4160, with a volume of 143,192 shares.

Analyst Ratings Changes

XRN has been the subject of several research analyst reports. BMO Capital Markets lifted their target price on shares of Global Medical REIT from $39.00 to $40.00 and gave the stock a "market perform" rating in a report on Monday, July 13th. Weiss Ratings raised shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a report on Thursday, August 13th. Wall Street Zen upgraded shares of Global Medical REIT from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. Cantor Fitzgerald began coverage on Global Medical REIT in a report on Monday, September 21st. They set an "overweight" rating and a $43.00 price objective for the company. Finally, Raymond James Financial initiated coverage on Global Medical REIT in a report on Wednesday, June 17th. They set a "market perform" rating for the company. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $40.17.

Global Medical REIT Stock Down 1.0%

The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. The stock has a market cap of $455.67 million, a P/E ratio of 9.25 and a beta of 1.12. The firm has a 50-day simple moving average of $36.34 and a two-hundred day simple moving average of $35.95.

Global Medical REIT (NYSE:XRN - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (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 13.31%. The company had revenue of $39.75 million during the quarter. Equities research analysts expect that Global Medical REIT Inc. will post 2.89 earnings per share for the current fiscal year.

Global Medical REIT Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be paid a $0.16 dividend. The ex-dividend date is Friday, November 20th. This represents a $1.92 annualized dividend and a yield of 5.6%. Global Medical REIT's payout ratio is 51.61%.

Insider Buying and Selling at Global Medical REIT

In other Global Medical REIT news, COO Aaron Roseth bought 13,500 shares of the stock in a transaction dated Wednesday, August 12th. The shares were bought at an average cost of $36.73 per share, with a total value of $495,855.00. Following the completion of the acquisition, the chief operating officer owned 13,500 shares of the company's stock, valued at $495,855. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark Okey Decker, Jr. purchased 6,875 shares of the company's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average price of $35.92 per share, with a total value of $246,950.00. Following the completion of the transaction, the chief executive officer owned 75,199 shares of the company's stock, valued at $2,701,148.08. This represents a 10.06% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders acquired 71,525 shares of company stock valued at $2,579,304 in the last quarter. Company insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Global Medical REIT

A number of large investors have recently added to or reduced their stakes in the stock. Clifford Capital Partners LLC lifted its position in shares of Global Medical REIT by 31.3% during the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company's stock valued at $496,000 after acquiring an additional 3,504 shares during the period. Heartland Advisors Inc. increased its position in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company's stock worth $14,288,000 after purchasing an additional 270,786 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Global Medical REIT by 11.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company's stock worth $661,000 after purchasing an additional 2,000 shares during the period. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Global Medical REIT in the fourth quarter worth $92,000. Institutional investors and hedge funds own 57.52% of the company's stock.

Global Medical REIT Company Profile

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.

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