Global Medical REIT Inc. (NYSE:GMRE) to Issue Quarterly Dividend of $0.21

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, September 5th, NASDAQ reports. Shareholders of record on Friday, September 20th will be given a dividend of 0.21 per share on Tuesday, October 8th. This represents a $0.84 annualized dividend and a dividend yield of 9.19%. The ex-dividend date of this dividend is Friday, September 20th.

Global Medical REIT has raised its dividend payment by an average of 18.0% annually over the last three years. Global Medical REIT has a dividend payout ratio of 1,400.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Medical REIT to earn $0.88 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 95.5%.

Global Medical REIT Stock Performance

Shares of GMRE stock traded down $0.03 during trading on Friday, hitting $9.14. The company’s stock had a trading volume of 230,148 shares, compared to its average volume of 375,708. The business has a fifty day moving average of $9.29 and a 200-day moving average of $8.95. The company has a market cap of $599.47 million, a PE ratio of 39.70, a P/E/G ratio of 1.38 and a beta of 1.23. Global Medical REIT has a 52 week low of $7.98 and a 52 week high of $11.59. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 1.20.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.25). The company had revenue of $34.24 million for the quarter, compared to the consensus estimate of $35.24 million. Global Medical REIT had a net margin of 4.18% and a return on equity of 1.09%. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, research analysts anticipate that Global Medical REIT will post 0.85 earnings per share for the current year.

Analyst Ratings Changes

Separately, B. Riley dropped their price objective on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, May 13th.

Global Medical REIT Company Profile

Global Medical REIT Inc (GMRE) is a net-lease medical office real estate investment trust (REIT) that owns and acquires healthcare facilities and leases those facilities to physician groups and regional and national healthcare systems.