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

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Wednesday, December 4th,Wall Street Journal reports. Stockholders of record on Friday, December 20th will be given a dividend of 0.21 per share on Wednesday, January 8th. This represents a $0.84 annualized dividend and a dividend yield of 9.93%. The ex-dividend date of this dividend is Friday, December 20th.

Global Medical REIT has increased its dividend payment by an average of 18.0% per year 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. Research 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 Performance

Global Medical REIT stock opened at $8.46 on Wednesday. The stock’s 50 day moving average is $8.96 and its 200 day moving average is $9.21. The company has a market capitalization of $565.15 million, a P/E ratio of -423.00, a PEG ratio of 1.47 and a beta of 1.21. Global Medical REIT has a twelve month low of $7.98 and a twelve month high of $11.59. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 1.26.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.18). The company had revenue of $34.26 million for the quarter, compared to the consensus estimate of $34.88 million. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. During the same quarter in the previous year, the business earned $0.23 earnings per share. On average, equities research analysts predict that Global Medical REIT will post 0.83 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GMRE has been the topic of several analyst reports. Berenberg Bank started coverage on shares of Global Medical REIT in a research note on Friday, October 18th. They issued a “buy” rating and a $11.75 target price on the stock. Alliance Global Partners started coverage on Global Medical REIT in a research report on Thursday, September 19th. They issued a “buy” rating and a $12.00 price objective on the stock.

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.