Global Medical REIT (NYSE:XRN) Upgraded at Zacks Research

Global Medical REIT (NYSE:XRN) was upgraded by stock analysts at Zacks Research to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

A number of other research analysts have also recently commented on the stock. Wall Street Zen cut shares of Global Medical REIT from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Raymond James Financial initiated coverage on Global Medical REIT in a research note on Wednesday, June 17th. They issued a “market perform” rating on the stock. Citizens Jmp increased their target price on Global Medical REIT from $40.00 to $42.00 and gave the stock a “market outperform” rating in a report on Tuesday, May 26th. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 6th. Finally, BMO Capital Markets raised their target price on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $40.25.

Global Medical REIT Price Performance

Shares of Global Medical REIT stock opened at $37.31 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68. The firm’s 50-day simple moving average is $36.53 and its 200-day simple moving average is $35.73. Global Medical REIT has a twelve month low of $29.05 and a twelve month high of $39.93. The firm has a market cap of $493.84 million, a P/E ratio of -33.62 and a beta of 1.10.

Insider Buying and Selling at Global Medical REIT

In other news, General Counsel Jamie Allen Barber purchased 1,481 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $33.50 per share, with a total value of $49,613.50. Following the acquisition, the general counsel directly owned 1,481 shares of the company’s stock, valued at approximately $49,613.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Danica Holley purchased 1,490 shares of Global Medical REIT stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $33.99 per share, for a total transaction of $50,645.10. Following the completion of the transaction, the chief operating officer owned 1,590 shares of the company’s stock, valued at approximately $54,044.10. This represents a 1,490.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 10,974 shares of company stock worth $373,826 over the last ninety days. Company insiders own 8.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of XRN. Invesco Ltd. boosted its holdings in shares of Global Medical REIT by 4.2% in the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company’s stock worth $10,474,000 after acquiring an additional 12,471 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Global Medical REIT during the 4th quarter worth approximately $563,000. XTX Topco Ltd acquired a new stake in Global Medical REIT during the 4th quarter valued at $515,000. Tudor Investment Corp ET AL acquired a new stake in Global Medical REIT during the 4th quarter valued at $930,000. Finally, Clifford Capital Partners LLC increased its holdings in 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 purchasing an additional 3,504 shares in the last quarter. Institutional investors own 57.52% of the company’s stock.

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.