Global Medical REIT Inc. (NYSE:XRN) Receives $40.25 Consensus Target Price from Brokerages

Shares of Global Medical REIT Inc. (NYSE:XRN) have been assigned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $40.25.

XRN has been the subject of several research reports. BMO Capital Markets upped their target price on Global Medical REIT from $39.00 to $40.00 and gave the stock a “market perform” rating in a research note on Monday, July 13th. Raymond James Financial assumed coverage on shares of Global Medical REIT in a research note on Wednesday, June 17th. They set a “market perform” rating on the stock. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Citizens Jmp upped their price objective on shares of Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research note on Tuesday, May 26th.

Insiders Place Their Bets

In other Global Medical REIT news, COO Danica Holley purchased 1,490 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $33.99 per share, with a total value of $50,645.10. Following the completion of the purchase, the chief operating officer directly owned 1,590 shares of the company’s stock, valued at approximately $54,044.10. This trade represents a 1,490.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paula Crowley purchased 1,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were acquired at an average price of $34.00 per share, with a total value of $34,000.00. Following the completion of the transaction, the director owned 1,000 shares of the company’s stock, valued at approximately $34,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 10,974 shares of company stock valued at $373,826 over the last three months. 8.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Global Medical REIT

Institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd increased its stake in Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after purchasing an additional 721 shares during the period. Fifth Third Bancorp lifted its position in Global Medical REIT by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock valued at $48,000 after purchasing an additional 370 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Global Medical REIT by 70.3% during the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in shares of Global Medical REIT during the second quarter valued at approximately $78,000. Finally, Virtus Advisers LLC grew its holdings in shares of Global Medical REIT by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock worth $82,000 after purchasing an additional 768 shares during the last quarter. 57.52% of the stock is currently owned by hedge funds and other institutional investors.

Global Medical REIT Trading Up 0.2%

Shares of XRN stock opened at $35.18 on Thursday. The firm has a market cap of $465.39 million, a P/E ratio of -31.69 and a beta of 1.09. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.68. Global Medical REIT has a 12-month low of $29.05 and a 12-month high of $39.93. The business has a 50-day moving average price of $36.56 and a two-hundred day moving average price of $35.80.

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.