Global Medical REIT Inc. (XRN) To Go Ex-Dividend on July 20th

Global Medical REIT Inc. (NYSE:XRN) declared a monthly dividend on Tuesday, May 5th. Investors of record on Monday, July 20th will be paid a dividend of 0.16 per share on Friday, August 14th. This represents a c) annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend is Monday, July 20th.

Global Medical REIT has decreased its dividend payment by an average of 0.0%per year over the last three years. Global Medical REIT has a payout ratio of 3,840.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Global Medical REIT Stock Performance

Shares of XRN opened at $37.88 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.68 and a current ratio of 0.68. The stock has a 50 day moving average price of $36.27 and a two-hundred day moving average price of $35.61. The firm has a market capitalization of $501.34 million, a P/E ratio of -34.13 and a beta of 1.10. Global Medical REIT has a 52 week low of $29.05 and a 52 week high of $39.93.

Insiders Place Their Bets

In related news, General Counsel Jamie Allen Barber bought 1,481 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average cost of $33.50 per share, for a total transaction of $49,613.50. Following the completion of the purchase, the general counsel directly owned 1,481 shares in the company, valued at $49,613.50. The trade was a ∞ 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 Danica Holley bought 1,490 shares of Global Medical REIT stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $33.99 per share, with a total value of $50,645.10. Following the completion of the transaction, the chief operating officer directly owned 1,590 shares in the company, valued at approximately $54,044.10. This trade represents a 1,490.00% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have purchased 10,974 shares of company stock valued at $373,826. Company insiders own 8.90% of the company’s stock.

Hedge Funds Weigh In On Global Medical REIT

Several institutional investors and hedge funds have recently bought and sold shares of XRN. Invesco Ltd. grew its stake in Global Medical REIT by 30.5% in the 2nd quarter. Invesco Ltd. now owns 1,518,668 shares of the company’s stock valued at $10,524,000 after buying an additional 355,355 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Global Medical REIT during the third quarter worth $9,997,000. Marshall Wace LLP lifted its position in shares of Global Medical REIT by 2,208.2% during the second quarter. Marshall Wace LLP now owns 291,708 shares of the company’s stock worth $2,022,000 after acquiring an additional 279,070 shares in the last quarter. Heartland Advisors Inc. lifted its position in shares of Global Medical REIT by 177.4% during the fourth quarter. Heartland Advisors Inc. now owns 423,460 shares of the company’s stock worth $14,288,000 after acquiring an additional 270,786 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC bought a new position in shares of Global Medical REIT in the third quarter worth $7,798,000. 57.52% of the stock is owned by institutional investors.

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.