Global Medical REIT (NYSE:XRN) CEO Mark Okey Decker, Jr. Purchases 5,000 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. purchased 5,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $33.94 per share, for a total transaction of $169,700.00. Following the purchase, the chief executive officer owned 59,774 shares in the company, valued at $2,028,729.56. The trade was a 9.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Global Medical REIT Stock Performance

Shares of XRN opened at $34.11 on Wednesday. The company’s fifty day moving average is $35.04 and its 200-day moving average is $34.44. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93. The firm has a market cap of $451.21 million, a price-to-earnings ratio of -30.73 and a beta of 1.11. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.68.

Global Medical REIT Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Friday, September 18th. Investors of record on Thursday, August 20th will be paid a $0.16 dividend. The ex-dividend date is Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 5.6%. Global Medical REIT’s dividend payout ratio (DPR) is presently -270.27%.

Hedge Funds Weigh In On Global Medical REIT

A number of hedge funds and other institutional investors have recently made changes to their positions in XRN. AQR Capital Management LLC lifted its holdings in shares of Global Medical REIT by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 58,538 shares of the company’s stock worth $512,000 after acquiring an additional 5,062 shares during the period. Jones Financial Companies Lllp lifted its holdings in Global Medical REIT by 23,920.0% during the 1st quarter. Jones Financial Companies Lllp now owns 24,020 shares of the company’s stock valued at $210,000 after purchasing an additional 23,920 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Global Medical REIT by 13.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 388,605 shares of the company’s stock valued at $3,400,000 after purchasing an additional 45,243 shares during the last quarter. Strs Ohio bought a new position in Global Medical REIT during the 1st quarter valued at about $95,000. Finally, Envestnet Asset Management Inc. lifted its holdings in Global Medical REIT by 39.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 26,617 shares of the company’s stock valued at $184,000 after purchasing an additional 7,536 shares during the last quarter. 57.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

XRN has been the topic of a number of research analyst reports. Compass Point reiterated a “neutral” rating and issued a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a research note on Thursday, May 7th. Wall Street Zen downgraded shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings downgraded shares of Global Medical REIT from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.67.

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.