Global Medical REIT Inc. Plans Monthly Dividend of $0.25 (NYSE:XRN)

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, February 24th. Investors of record on Wednesday, May 20th will be paid a dividend of 0.25 per share on Friday, June 12th. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Wednesday, May 20th.

Global Medical REIT has decreased its dividend payment by an average of 0.0%annually over the last three years. Global Medical REIT has a 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.

Global Medical REIT Trading Up 0.0%

Shares of XRN stock opened at $33.54 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market cap of $443.68 million, a PE ratio of -30.21 and a beta of 1.11. The company has a 50-day moving average of $34.93 and a two-hundred day moving average of $34.48. Global Medical REIT has a 1-year low of $29.05 and a 1-year high of $39.93.

Insider Activity

In related news, Director Paula Crowley acquired 1,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average price of $34.00 per share, for a total transaction of $34,000.00. Following the purchase, the director owned 1,000 shares of the company’s stock, valued at $34,000. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Okey Decker, Jr. acquired 5,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $33.94 per share, with a total value of $169,700.00. Following the completion of the transaction, the chief executive officer owned 59,774 shares of the company’s stock, valued at approximately $2,028,729.56. This represents a 9.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 10,974 shares of company stock worth $373,826 over the last three months. Company insiders own 8.90% of the company’s stock.

Institutional Trading of Global Medical REIT

Several hedge funds have recently added to or reduced their stakes in XRN. Caitong International Asset Management Co. Ltd grew its holdings in Global Medical REIT by 1,001.4% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 793 shares of the company’s stock worth $27,000 after acquiring an additional 721 shares in the last quarter. Fifth Third Bancorp acquired a new stake in shares of Global Medical REIT in the 3rd quarter valued at $35,000. New York State Teachers Retirement System purchased a new stake in shares of Global Medical REIT during the 3rd quarter worth $39,000. Tower Research Capital LLC TRC lifted its position in shares of Global Medical REIT by 70.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,379 shares of the company’s stock worth $51,000 after purchasing an additional 3,046 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of Global Medical REIT during the second quarter worth $78,000. Institutional investors and hedge funds own 57.52% of the company’s stock.

About Global Medical REIT

Global Medical REIT (NYSE: GMRE) is a real estate investment trust focused on owning and managing healthcare-related properties across the United States. The company acquires, develops and leases a diversified portfolio of medical office buildings, outpatient facilities, long-term care centers and other specialized healthcare real estate. By concentrating on essential healthcare assets, Global Medical REIT seeks to generate stable, long-term rental income under triple-net and modified gross lease structures.

Since its incorporation in 2016 and initial public offering in 2017, the company has pursued an acquisitive growth strategy targeting markets with strong demographic trends and limited supply of modern medical facilities.