Key Points
- Insider buying: CIO Matthew Fitzsimmons Whitlock purchased 500 Global Medical REIT shares at an average $36.38, spending $18,190 and increasing his ownership by 33.33% to 2,000 shares. He also bought 500 shares the previous week.
- Financial performance: Global Medical REIT reported quarterly EPS of $4.78, surpassing the $0.83 consensus estimate, on revenue of $39.75 million. The stock opened at $36.46 and has a market capitalization of approximately $482.7 million.
- Analyst view: Analysts maintain a consensus “Hold” rating with an average price target of $40.25; two analysts rate the stock a Buy while six recommend Hold. Institutional investors own 57.52% of the company.
Global Medical REIT Inc. (NYSE:XRN - Get Free Report) CIO Matthew Fitzsimmons Whitlock purchased 500 shares of the business's stock in a transaction dated Monday, August 17th. The stock was bought at an average cost of $36.38 per share, for a total transaction of $18,190.00. Following the purchase, the executive owned 2,000 shares in the company, valued at $72,760. This trade represents a 33.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Matthew Fitzsimmons Whitlock also recently made the following trade(s):
- On Friday, August 14th, Matthew Fitzsimmons Whitlock bought 500 shares of Global Medical REIT stock. The stock was bought at an average cost of $37.21 per share, for a total transaction of $18,605.00.
Global Medical REIT Trading Down 1.8%
NYSE:XRN opened at $36.46 on Tuesday. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.37. Global Medical REIT Inc. has a 1-year low of $29.05 and a 1-year high of $39.93. The firm has a market capitalization of $482.73 million, a price-to-earnings ratio of 9.80 and a beta of 1.09. The business's 50-day moving average price is $36.63 and its two-hundred day moving average price is $35.83.
Global Medical REIT (NYSE:XRN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%. On average, equities analysts expect that Global Medical REIT Inc. will post 2.89 earnings per share for the current year.
Wall Street Analyst Weigh In
XRN has been the subject of several recent analyst reports. BMO Capital Markets upped their target price on shares of Global Medical REIT from $39.00 to $40.00 and gave the company a "market perform" rating in a research note on Monday, July 13th. Raymond James Financial initiated coverage on Global Medical REIT in a research report on Wednesday, June 17th. They set a "market perform" rating on the stock. Wall Street Zen lowered Global Medical REIT from a "hold" rating to a "sell" rating in a research report on Saturday, May 9th. Citizens Jmp raised their target price on shares of Global Medical REIT from $40.00 to $42.00 and gave the stock a "market outperform" rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised shares of Global Medical REIT from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday. Two investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $40.25.
Read Our Latest Stock Report on XRN
Institutional Trading of Global Medical REIT
A number of institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd boosted its holdings 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 purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp lifted its position in Global Medical REIT by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 1,417 shares of the company's stock worth $48,000 after buying an additional 370 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company's stock worth $51,000 after buying an additional 3,046 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Global Medical REIT in the 2nd quarter valued at about $78,000. Finally, Virtus Advisers LLC grew 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 valued at $82,000 after acquiring an additional 768 shares in the last quarter. Institutional investors own 57.52% of the company's stock.
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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