Global Medical REIT (NYSE:XRN) Stock Crosses Above 50 Day Moving Average – Time to Sell?

Global Medical REIT Inc. (NYSE:XRN)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $36.80 and traded as high as $36.95. Global Medical REIT shares last traded at $36.47, with a volume of 84,942 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on XRN. Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Raymond James Financial initiated coverage on Global Medical REIT in a research note on Wednesday, June 17th. They set a “market perform” rating on the stock. Weiss Ratings raised Global Medical REIT from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, August 13th. 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 note on Monday, July 13th. Finally, Citizens Jmp upped their price target on Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Global Medical REIT has a consensus rating of “Hold” and a consensus target price of $40.25.

Global Medical REIT Stock Up 0.2%

The company has a market cap of $490.21 million, a P/E ratio of 9.95 and a beta of 1.10. The company has a 50 day moving average of $36.82 and a 200-day moving average of $35.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59.

Global Medical REIT (NYSE:XRN) last posted its earnings results on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, topping the consensus estimate of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%.The business had revenue of $39.75 million during the quarter. On average, equities analysts predict that Global Medical REIT Inc. will post 2.89 earnings per share for the current year.

Global Medical REIT Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, November 20th will be given a $0.16 dividend. This represents a c) annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s dividend payout ratio is 51.61%.

Insider Activity at Global Medical REIT

In related news, CEO Mark Okey Decker, Jr. purchased 6,875 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $35.92 per share, with a total value of $246,950.00. Following the acquisition, the chief executive officer directly owned 75,199 shares of the company’s stock, valued at approximately $2,701,148.08. This represents a 10.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Charles Fitzgerald acquired 14,000 shares of the stock in a transaction dated Tuesday, August 11th. The shares were bought at an average price of $35.78 per share, for a total transaction of $500,920.00. Following the transaction, the director owned 138,893 shares in the company, valued at approximately $4,969,591.54. This represents a 11.21% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 71,525 shares of company stock valued at $2,579,304 over the last three months. 8.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Medical REIT

Large investors have recently added to or reduced their stakes in the company. 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 purchasing an additional 12,471 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Global Medical REIT in the 4th quarter worth approximately $563,000. XTX Topco Ltd bought a new position in Global Medical REIT during the fourth quarter valued at approximately $515,000. Tudor Investment Corp ET AL bought a new position in Global Medical REIT during the fourth quarter valued at approximately $930,000. Finally, Clifford Capital Partners LLC raised its stake in shares of Global Medical REIT by 31.3% during 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. Hedge funds and other 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.