Global Medical REIT (NYSE:XRN) Director Purchases $49,870.40 in Stock

Global Medical REIT Inc. (NYSE:XRN) Director Matthew Cypher purchased 1,420 shares of the firm’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $35.12 per share, with a total value of $49,870.40. Following the completion of the transaction, the director owned 1,690 shares of the company’s stock, valued at approximately $59,352.80. The trade was a 525.93% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Global Medical REIT Stock Down 3.0%

Shares of XRN stock traded down $1.04 during mid-day trading on Friday, hitting $33.54. 113,693 shares of the stock traded hands, compared to its average volume of 121,182. The stock has a market cap of $443.68 million, a P/E ratio of -30.21 and a beta of 1.11. The stock’s fifty day moving average is $34.98 and its two-hundred day moving average is $34.47. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.61.

Global Medical REIT Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be given a dividend of $0.16 per share. This represents a c) annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT’s dividend payout ratio is presently -270.27%.

Hedge Funds Weigh In On Global Medical REIT

Several hedge funds have recently modified their holdings of the stock. Marshall Wace LLP increased its holdings 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 valued at $1,290,000 after acquiring an additional 308 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings 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 valued at $163,000 after acquiring an additional 332 shares in the last quarter. Fifth Third Bancorp increased its holdings 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 valued at $48,000 after acquiring an additional 370 shares in the last quarter. Caitong International Asset Management Co. Ltd increased its holdings 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 valued at $27,000 after acquiring an additional 721 shares in the last quarter. Finally, Virtus Advisers LLC increased its holdings 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 valued at $82,000 after acquiring an additional 768 shares in the last quarter. Institutional investors and hedge funds own 57.52% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on XRN. Weiss Ratings lowered shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. 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 report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.67.

Global Medical REIT Company Profile

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.