Global Medical REIT (NYSE:XRN) CEO Mark Okey Decker, Jr. Purchases 8,000 Shares of Stock

Global Medical REIT Inc. (NYSE:XRN) CEO Mark Okey Decker, Jr. purchased 8,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $35.88 per share, with a total value of $287,040.00. Following the completion of the purchase, the chief executive officer directly owned 67,774 shares of the company’s stock, valued at $2,431,731.12. The trade was a 13.38% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Global Medical REIT Stock Performance

Global Medical REIT stock opened at $36.43 on Thursday. The stock’s 50-day moving average is $36.57 and its 200-day moving average is $35.79. The company has a market cap of $482.33 million, a price-to-earnings ratio of 9.79 and a beta of 1.09. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68. Global Medical REIT Inc. has a 12 month low of $29.05 and a 12 month high of $39.93.

Global Medical REIT (NYSE:XRN) last issued its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $3.95. The business had revenue of $39.75 million during the quarter. Global Medical REIT had a return on equity of 13.74% and a net margin of 36.82%. Equities analysts anticipate that Global Medical REIT Inc. will post 3.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

XRN has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of 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. Wall Street Zen lowered shares of Global Medical REIT from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Citizens Jmp lifted their target price on shares of Global Medical REIT from $40.00 to $42.00 and gave the company a “market outperform” rating in a report on Tuesday, May 26th. Compass Point reaffirmed a “neutral” rating and set a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Finally, Raymond James Financial began coverage on Global Medical REIT in a report on Wednesday, June 17th. They issued a “market perform” rating for the company. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.25.

Hedge Funds Weigh In On Global Medical REIT

Several hedge funds and other institutional investors have recently bought and sold shares of XRN. Caitong International Asset Management Co. Ltd grew its position in Global Medical REIT by 1,001.4% in 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 in the last quarter. Fifth Third Bancorp lifted its position in shares of Global Medical REIT by 35.3% during the fourth quarter. Fifth Third Bancorp now owns 1,417 shares of the company’s stock worth $48,000 after purchasing an additional 370 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Global Medical REIT by 70.3% during the second 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. B. Riley Wealth Advisors Inc. purchased a new position in shares of Global Medical REIT in the second quarter valued at $78,000. Finally, Virtus Advisers LLC boosted its stake in shares of Global Medical REIT by 46.5% in the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company’s stock valued at $82,000 after purchasing an additional 768 shares during the period. 57.52% of the stock is owned by institutional investors and hedge funds.

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.