Global Medical REIT Inc. (NYSE:GMRE) to Issue Quarterly Dividend of $0.75

Global Medical REIT Inc. (NYSE:GMRE) announced a quarterly dividend on Thursday, December 4th. Investors of record on Friday, December 19th will be paid a dividend of 0.75 per share on Friday, January 9th. This represents a c) annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Friday, December 19th.

Global Medical REIT has increased its dividend payment by an average of 0.0%per year over the last three years. Global Medical REIT has a dividend payout ratio of 6,000.0% meaning 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 $0.84 per share next year, which means the company may not be able to cover its $3.00 annual dividend with an expected future payout ratio of 357.1%.

Global Medical REIT Price Performance

Shares of GMRE opened at $32.64 on Friday. The firm has a fifty day moving average price of $32.09 and a 200 day moving average price of $33.66. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.52 and a quick ratio of 0.52. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $45.75. The stock has a market cap of $437.64 million, a PE ratio of -130.54 and a beta of 1.17.

Global Medical REIT (NYSE:GMRE) last released its quarterly earnings results on Tuesday, November 4th. The company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.07. The firm had revenue of $37.23 million for the quarter, compared to the consensus estimate of $38.15 million. Global Medical REIT had a return on equity of 0.25% and a net margin of 0.79%.Global Medical REIT has set its FY 2025 guidance at 4.500-4.600 EPS. As a group, sell-side analysts anticipate that Global Medical REIT will post 0.81 EPS for the current year.

Insider Buying and Selling

In related news, CEO Mark Okey Decker, Jr. bought 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The stock was bought at an average cost of $32.58 per share, with a total value of $325,800.00. Following the completion of the acquisition, the chief executive officer owned 44,774 shares in the company, valued at approximately $1,458,736.92. This represents a 28.76% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 8.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in Global Medical REIT by 1,001.4% in the third quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock valued at $27,000 after purchasing an additional 721 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Global Medical REIT during the 3rd quarter valued at about $35,000. New York State Teachers Retirement System acquired a new stake in shares of Global Medical REIT in the third quarter worth approximately $39,000. Tower Research Capital LLC TRC grew its holdings in Global Medical REIT by 70.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock valued at $51,000 after purchasing an additional 3,046 shares during the period. Finally, State of Wyoming acquired a new position in Global Medical REIT during the first quarter worth approximately $65,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

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.