Key Points
- Director buying: Global Medical REIT director Matthew Cypher bought 1,420 shares at $35.12 each, spending about $49,870.40. After the purchase, he owned 1,690 shares, a sharp increase in his position.
- Stock and dividend update: Shares were trading down about 3% to $33.54, while the company announced a monthly dividend of $0.16 per share, implying a 5.7% annualized yield.
- Analyst sentiment mixed: Recent ratings included downgrades from Weiss Ratings and Wall Street Zen, while Compass Point kept a neutral view with a reduced $38 price target. Overall, the consensus rating remains Moderate Buy with a target price of $39.67.
Global Medical REIT Inc. (NYSE:XRN - Get Free Report) Director Matthew Cypher purchased 1,420 shares of Global Medical REIT stock in a transaction that occurred on Thursday, May 14th. The stock was acquired at an average cost of $35.12 per share, with a total value of $49,870.40. Following the acquisition, the director directly owned 1,690 shares of the company's stock, valued at $59,352.80. The trade was a 525.93% increase in their position. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.
Global Medical REIT Trading Down 3.0%
Shares of XRN opened at $33.54 on Friday. The company has a market capitalization of $443.68 million, a P/E ratio of -30.21 and a beta of 1.11. Global Medical REIT Inc. has a one year low of $29.05 and a one year high of $39.93. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a 50-day moving average price of $34.93 and a 200 day moving average price of $34.47.
Global Medical REIT Announces Dividend
The company 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 dividend of $0.16 per share. This represents a c) dividend on an annualized basis and a yield of 5.7%. The ex-dividend date of this dividend is Thursday, August 20th. Global Medical REIT's dividend payout ratio (DPR) is currently -270.27%.
Analyst Ratings Changes
A number of research analysts have commented on the company. Weiss Ratings downgraded Global Medical REIT from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday. Compass Point reaffirmed a "neutral" rating and set a $38.00 target price (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded 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 given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.67.
Get Our Latest Analysis on Global Medical REIT
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in shares of Global Medical REIT by 0.8% in the 4th quarter. Marshall Wace LLP now owns 38,244 shares of the company's stock worth $1,290,000 after purchasing an additional 308 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Global Medical REIT by 7.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,827 shares of the company's stock worth $163,000 after purchasing an additional 332 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Global Medical REIT by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock worth $48,000 after purchasing an additional 370 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Global Medical REIT by 1,001.4% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company's stock worth $27,000 after purchasing an additional 721 shares during the last quarter. Finally, Virtus Advisers LLC lifted its holdings in shares of Global Medical REIT by 46.5% in the 4th quarter. Virtus Advisers LLC now owns 2,418 shares of the company's stock worth $82,000 after purchasing an additional 768 shares during the last quarter. Institutional investors own 57.52% of the company's stock.
Global Medical REIT Company Profile
(
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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