Global Medical REIT Inc. (NYSE:XRN) Plans Monthly Dividend of $0.16

Global Medical REIT Inc. (NYSE:XRN) announced a monthly dividend on Tuesday, August 18th. Investors of record on Monday, September 21st will be paid a dividend of 0.16 per share on Friday, October 16th. This represents a c) dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, September 21st.

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 3,840.0% meaning 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 $2.20 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 87.3%.

Global Medical REIT Stock Performance

Shares of Global Medical REIT stock opened at $36.27 on Wednesday. The business has a 50-day simple moving average of $36.61 and a 200 day simple moving average of $35.84. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59. The firm has a market capitalization of $480.23 million, a price-to-earnings ratio of 9.75 and a beta of 1.09.

Global Medical REIT (NYSE:XRN) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $3.95. Global Medical REIT had a return on equity of 13.31% and a net margin of 36.82%.The business had revenue of $39.75 million for the quarter. On average, research analysts anticipate that Global Medical REIT will post 2.89 earnings per share for the current fiscal year.

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.