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

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Thursday, September 5th, NASDAQ reports. Investors of record on Friday, September 20th will be paid a dividend of 0.21 per share on Tuesday, October 8th. This represents a $0.84 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Friday, September 20th.

Global Medical REIT has raised its dividend payment by an average of 18.0% per year over the last three years. Global Medical REIT has a dividend payout ratio of 1,680.0% 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

NYSE:GMRE opened at $10.15 on Thursday. The stock has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $8.98. The company has a debt-to-equity ratio of 1.20, a quick ratio of 0.29 and a current ratio of 0.29. Global Medical REIT has a 52-week low of $7.98 and a 52-week high of $11.59. The firm has a market capitalization of $665.72 million, a PE ratio of 44.13, a P/E/G ratio of 1.39 and a beta of 1.24.

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

Analyst Ratings Changes

Separately, Alliance Global Partners initiated coverage on shares of Global Medical REIT in a research note on Thursday. They issued a “buy” rating and a $12.00 price objective for the company.

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.