Global Medical REIT Inc. (NYSE:GMRE – Get Free Report) announced a quarterly dividend on Thursday, June 6th, Zacks reports. Stockholders of record on Friday, June 21st will be paid a dividend of 0.21 per share on Tuesday, July 9th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.11%. The ex-dividend date of this dividend is Friday, June 21st.
Global Medical REIT has raised its dividend by an average of 18.0% per year over the last three years. Global Medical REIT has a payout ratio of 1,400.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $0.95 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 88.4%.
Global Medical REIT Stock Performance
Shares of NYSE GMRE opened at $9.22 on Wednesday. The firm has a 50 day moving average of $8.69 and a 200 day moving average of $9.43. The company has a current ratio of 0.22, a quick ratio of 0.22 and a debt-to-equity ratio of 1.14. The firm has a market capitalization of $604.74 million, a price-to-earnings ratio of 40.09, a price-to-earnings-growth ratio of 1.26 and a beta of 1.21. Global Medical REIT has a 12-month low of $7.98 and a 12-month high of $11.59.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on Global Medical REIT
About Global Medical REIT
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.
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