Key Points
- Global Medical REIT General Counsel Jamie Allen Barber bought 1,481 shares on May 12 at an average price of $33.50, totaling about $49,614.
- The stock opened at $34.35 and has traded between a 52-week low of $29.05 and high of $39.93, with a market cap of about $454.6 million.
- The company declared a monthly dividend of $0.16 per share, payable September 18, implying an annualized yield of 5.6%.
Global Medical REIT Inc. (NYSE:XRN - Get Free Report) General Counsel Jamie Allen Barber purchased 1,481 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $33.50 per share, for a total transaction of $49,613.50. Following the acquisition, the general counsel owned 1,481 shares in the company, valued at approximately $49,613.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this link.
Global Medical REIT Stock Performance
NYSE:XRN opened at $34.35 on Thursday. The business's 50-day moving average price is $35.01 and its two-hundred day moving average price is $34.46. Global Medical REIT Inc. has a twelve month low of $29.05 and a twelve month high of $39.93. The stock has a market cap of $454.56 million, a P/E ratio of -30.94 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 Announces Dividend
The firm also recently declared 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) annualized dividend and a dividend 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 large investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in shares of Global Medical REIT by 4.2% during the 4th quarter. Invesco Ltd. now owns 310,432 shares of the company's stock valued at $10,474,000 after buying an additional 12,471 shares in the last quarter. Mackenzie Financial Corp bought a new position in Global Medical REIT during the 4th quarter worth approximately $563,000. XTX Topco Ltd bought a new position in Global Medical REIT during the 4th quarter worth approximately $515,000. Tudor Investment Corp ET AL bought a new position in Global Medical REIT during the 4th quarter worth approximately $930,000. Finally, Clifford Capital Partners LLC grew its position in Global Medical REIT by 31.3% during the 4th quarter. Clifford Capital Partners LLC now owns 14,694 shares of the company's stock worth $496,000 after acquiring an additional 3,504 shares during the last quarter. 57.52% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Compass Point reaffirmed a "neutral" rating and issued a $38.00 price target (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Weiss Ratings cut Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Finally, Wall Street Zen cut Global Medical REIT from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $39.67.
Check Out 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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