Paula Crowley Acquires 1,000 Shares of Global Medical REIT (NYSE:XRN) Stock

Global Medical REIT Inc. (NYSE:XRN) Director Paula Crowley bought 1,000 shares of Global Medical REIT stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $34.00 per share, for a total transaction of $34,000.00. Following the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at $34,000. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $34.11 on Wednesday. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. The stock has a market capitalization of $451.21 million, a P/E ratio of -30.73 and a beta of 1.11. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.68. The business’s fifty day moving average price is $35.04 and its 200 day moving average price is $34.44.

Global Medical REIT Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be issued a $0.16 dividend. The ex-dividend date is Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Global Medical REIT’s dividend payout ratio (DPR) is presently -270.27%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Invesco Ltd. lifted its stake in shares of Global Medical REIT by 4.2% during the fourth quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after purchasing an additional 12,471 shares in the last quarter. Mackenzie Financial Corp acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $563,000. XTX Topco Ltd acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $515,000. Tudor Investment Corp ET AL acquired a new position in shares of Global Medical REIT in the fourth quarter worth about $930,000. Finally, Clifford Capital Partners LLC lifted its stake in shares of Global Medical REIT by 31.3% in the fourth quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company’s stock worth $496,000 after acquiring an additional 3,504 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on XRN. Wall Street Zen cut Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings cut Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Compass Point restated a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.67.

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.