Key Points
- Director Henry Cole bought 583 shares of Global Medical REIT at an average price of $34.30, spending about $20,000 and increasing his ownership by 37.71%.
- The stock was down 1.1% in Tuesday trading, opening at $33.62, with a market cap of $444.74 million and a 52-week range of $29.05 to $39.93.
- Global Medical REIT announced a monthly dividend of $0.16 per share, payable September 18, implying an annualized yield of 5.7%.
Global Medical REIT Inc. (NYSE:XRN - Get Free Report) Director Henry Cole purchased 583 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were purchased at an average cost of $34.30 per share, with a total value of $19,996.90. Following the completion of the acquisition, the director directly owned 2,129 shares of the company's stock, valued at $73,024.70. This represents a 37.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Global Medical REIT Trading Down 1.1%
NYSE XRN opened at $33.62 on Tuesday. The stock has a market capitalization of $444.74 million, a P/E ratio of -30.28 and a beta of 1.11. Global Medical REIT Inc. has a 52-week low of $29.05 and a 52-week high of $39.93. The firm has a 50-day moving average price of $35.08 and a 200 day moving average price of $34.42. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.62.
Global Medical REIT Dividend Announcement
The business also recently announced a monthly dividend, which will be paid on Friday, September 18th. Shareholders of record on Thursday, August 20th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 5.7%. Global Medical REIT's dividend payout ratio (DPR) is -270.27%.
Institutional Trading of Global Medical REIT
Several large investors have recently modified their holdings of the business. Marshall Wace LLP grew its position in shares of Global Medical REIT by 0.8% in the fourth quarter. Marshall Wace LLP now owns 38,244 shares of the company's stock valued at $1,290,000 after purchasing an additional 308 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in Global Medical REIT by 7.4% during the fourth quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company's stock worth $163,000 after acquiring an additional 332 shares during the last quarter. Fifth Third Bancorp boosted its position in 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 acquiring an additional 370 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its position 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 worth $27,000 after acquiring an additional 721 shares during the last quarter. Finally, Virtus Advisers LLC boosted its position in Global Medical REIT by 46.5% during the fourth quarter. Virtus Advisers LLC now owns 2,418 shares of the company's stock worth $82,000 after acquiring an additional 768 shares during the last quarter. 57.52% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently commented on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Global Medical REIT in a research report on Monday, April 20th. Compass Point reiterated a "neutral" rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a research report on Thursday, May 7th. Finally, Wall Street Zen lowered shares of Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Global Medical REIT has a consensus rating of "Moderate Buy" and a consensus target price of $39.67.
Read Our Latest Analysis on XRN
About Global Medical REIT
(
Get Free Report)
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.
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