Global Medical REIT (NYSE:XRN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Global Medical REIT (NYSE:XRN) from a sell rating to a hold rating in a report published on Saturday morning,Wall Street Zen reports.

A number of other brokerages also recently issued reports on XRN. Weiss Ratings upgraded 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 price objective on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research report on Monday, July 13th. Huntington began coverage on Global Medical REIT in a research note on Thursday, September 10th. They issued a “market perform” rating and a $37.00 target price on the stock. Raymond James Financial initiated coverage on shares of Global Medical REIT in a report on Wednesday, June 17th. They issued a “market perform” rating for the company. Finally, Citizens Jmp increased their price target on shares of 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 investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $39.60.

Global Medical REIT Price Performance

NYSE XRN opened at $36.27 on Friday. The company has a market cap of $480.16 million, a PE ratio of 9.75 and a beta of 1.10. The firm’s 50 day moving average price is $36.71 and its 200-day moving average price is $35.97. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.59 and a current ratio of 0.59. Global Medical REIT has a 52-week low of $29.05 and a 52-week high of $39.93.

Global Medical REIT (NYSE:XRN) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. Sell-side analysts forecast that Global Medical REIT will post 2.89 EPS for the current fiscal year.

Global Medical REIT Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, November 20th will be paid a dividend of $0.16 per share. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date is Friday, November 20th. Global Medical REIT’s payout ratio is presently 51.61%.

Insider Activity

In other news, CEO Mark Decker, Jr. acquired 8,000 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were acquired at an average cost of $35.88 per share, with a total value of $287,040.00. Following the completion of the acquisition, the chief executive officer owned 67,774 shares of the company’s stock, valued at approximately $2,431,731.12. This trade represents a 13.38% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Aaron Roseth acquired 13,500 shares of Global Medical REIT stock in a transaction dated Wednesday, August 12th. The stock was purchased at an average price of $36.73 per share, with a total value of $495,855.00. Following the completion of the purchase, the chief operating officer owned 13,500 shares of the company’s stock, valued at approximately $495,855. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have bought 71,525 shares of company stock valued at $2,579,304. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

Several large investors have recently made changes to their positions in XRN. Eurizon Capital SGR S.p.A. purchased a new position in shares of Global Medical REIT during the fourth quarter worth $92,000. Clifford Capital Partners LLC raised its stake in shares of 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 buying an additional 3,504 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Global Medical REIT by 11.4% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 19,600 shares of the company’s stock valued at $661,000 after buying an additional 2,000 shares during the period. Arrow Investment Advisors LLC boosted its stake in shares of Global Medical REIT by 339.7% in the fourth quarter. Arrow Investment Advisors LLC now owns 28,028 shares of the company’s stock worth $946,000 after buying an additional 21,654 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its stake in shares of Global Medical REIT by 177.4% in the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after buying an additional 270,786 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.

Global Medical REIT Company Profile

Global Medical REIT Inc is a healthcare-focused real estate investment trust that acquires, owns and manages medical office buildings and other healthcare-related properties. Its portfolio has primarily included outpatient facilities leased to physician groups, specialty medical providers and healthcare systems.

The company generally operates under long-term, often triple-net leases, under which tenants are responsible for many property-level expenses such as taxes, insurance and maintenance.