Global Medical REIT Inc. (GMRE) to Distribute Quarterly Dividend of $0.21 on January 8th

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Wednesday, December 4th,Wall Street Journal reports. Shareholders of record on Friday, December 20th will be paid a dividend of 0.21 per share on Wednesday, January 8th. This represents a $0.84 annualized dividend and a yield of 9.93%. The ex-dividend date is Friday, December 20th.

Global Medical REIT has increased its dividend by an average of 18.0% per year 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

Global Medical REIT stock opened at $8.46 on Wednesday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 1.26. The firm has a market cap of $565.15 million, a P/E ratio of -423.00, a P/E/G ratio of 1.47 and a beta of 1.21. Global Medical REIT has a 1-year low of $7.98 and a 1-year high of $11.59. The firm has a 50-day moving average of $8.96 and a 200-day moving average of $9.21.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.18). The business had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same period in the previous year, the company earned $0.23 EPS. Sell-side analysts expect that Global Medical REIT will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Alliance Global Partners began coverage on shares of Global Medical REIT in a report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price target on the stock. Berenberg Bank started coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They set a “buy” rating and a $11.75 target price on the stock.

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.