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

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 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 9.19%. The ex-dividend date of this dividend is Friday, September 20th.

Global Medical REIT has increased 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. Equities 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 Down 0.3 %

GMRE opened at $9.14 on Friday. The company has a 50 day moving average of $9.29 and a 200 day moving average of $8.95. 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 has a 12 month low of $7.98 and a 12 month high of $11.59. The company has a market cap of $599.47 million, a PE ratio of 39.74, a price-to-earnings-growth ratio of 1.38 and a beta of 1.23.

Global Medical REIT (NYSE:GMRE) last announced 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 during the quarter, compared to analysts’ expectations 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 last year, the firm posted $0.23 earnings per share. On average, sell-side analysts expect that Global Medical REIT will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price target on Global Medical REIT from $11.00 to $10.00 and set a “buy” rating for the company in a research 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.