Global Medical REIT Inc. (NYSE:XRN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Global Medical REIT Inc. (NYSE:XRN) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $42.00.

Separately, Weiss Ratings raised shares of Global Medical REIT from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, January 21st.

Global Medical REIT Stock Up 0.2%

Shares of XRN stock opened at $33.23 on Friday. Global Medical REIT has a 12 month low of $29.05 and a 12 month high of $44.40. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62. The firm has a market cap of $439.63 million, a PE ratio of -36.92 and a beta of 1.16. The stock has a 50 day moving average of $35.81 and a 200-day moving average of $34.38.

Global Medical REIT Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, June 12th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 20th. This represents a c) annualized dividend and a dividend yield of 9.0%. Global Medical REIT’s payout ratio is presently -333.33%.

Institutional Investors Weigh In On Global Medical REIT

Several hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd increased its stake in Global Medical REIT by 1,001.4% during the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after acquiring an additional 721 shares during the period. Fifth Third Bancorp bought a new stake in shares of Global Medical REIT in the 3rd quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new stake in shares of Global Medical REIT during the 3rd quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its holdings in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of Global Medical REIT during the second quarter valued at approximately $78,000. Institutional investors own 57.52% of the company’s stock.

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.