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

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Shareholders of record on Friday, March 21st will be paid a dividend of 0.21 per share on Wednesday, April 9th. This represents a $0.84 annualized dividend and a yield of 9.58%. The ex-dividend date of this dividend is Friday, March 21st.

Global Medical REIT has decreased its dividend payment by an average of 0.2% per year over the last three years. Global Medical REIT has a payout ratio of 1,200.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Medical REIT to earn $0.84 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 100.0%.

Global Medical REIT Price Performance

NYSE:GMRE opened at $8.77 on Wednesday. The firm has a market capitalization of $586.12 million, a price-to-earnings ratio of -438.03, a PEG ratio of 1.43 and a beta of 1.26. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.28 and a quick ratio of 0.28. The business has a 50 day simple moving average of $8.24 and a 200-day simple moving average of $8.71. Global Medical REIT has a 1 year low of $7.33 and a 1 year high of $10.46.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. The company had revenue of $35.16 million during the quarter, compared to the consensus estimate of $34.87 million. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. Equities analysts forecast that Global Medical REIT will post 0.81 EPS for the current year.

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.