Global Medical REIT (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock Acquires 500 Shares

Global Medical REIT Inc. (NYSE:XRN) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of the stock in a transaction dated Monday, August 17th. The stock was acquired at an average cost of $36.38 per share, for a total transaction of $18,190.00. Following the completion of the transaction, the executive owned 2,000 shares of the company’s stock, valued at $72,760. The trade was a 33.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matthew Fitzsimmons Whitlock also recently made the following trade(s):

• On Friday, August 14th, Matthew Fitzsimmons Whitlock bought 500 shares of Global Medical REIT stock. The shares were acquired at an average price of $37.21 per share, with a total value of $18,605.00.

Global Medical REIT Stock Performance

Shares of NYSE XRN opened at $36.46 on Tuesday. The company has a market cap of $482.73 million, a P/E ratio of 9.80 and a beta of 1.09. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93. The business’s 50 day moving average is $36.63 and its two-hundred day moving average is $35.83. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter. On average, equities analysts expect that Global Medical REIT Inc. will post 2.89 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on XRN. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday. Compass Point reissued 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. Citizens Jmp boosted their target price 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. Raymond James Financial started coverage on shares of Global Medical REIT in a research report on Wednesday, June 17th. They set a “market perform” rating for the company. Finally, Zacks Research raised shares of Global Medical REIT to a “hold” rating in a report on Wednesday, July 22nd. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Global Medical REIT currently has a consensus rating of “Hold” and a consensus target price of $40.25.

Institutional Trading of Global Medical REIT

A number of hedge funds and other institutional investors have recently modified their holdings of XRN. Invesco Ltd. increased its stake 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 valued at $10,474,000 after buying an additional 12,471 shares during the period. Mackenzie Financial Corp acquired a new stake in Global Medical REIT in the fourth quarter worth about $563,000. XTX Topco Ltd bought a new stake in Global Medical REIT during the 4th quarter worth about $515,000. Tudor Investment Corp ET AL acquired a new position in Global Medical REIT during the 4th quarter valued at about $930,000. Finally, Clifford Capital Partners LLC lifted its position 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 during the period. Institutional investors and hedge funds 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.