Global Medical REIT Inc. (NYSE:GMRE) Declares $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 given a dividend of 0.21 per share on Wednesday, April 9th. This represents a $0.84 annualized dividend and a yield of 9.52%. The ex-dividend date of this dividend is Friday, March 21st.

Global Medical REIT has decreased its dividend by an average of 0.2% per year over the last three years. Global Medical REIT has a dividend payout ratio of 1,050.0% 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 Stock Performance

NYSE:GMRE traded up $0.35 during mid-day trading on Friday, hitting $8.83. The company’s stock had a trading volume of 1,300,100 shares, compared to its average volume of 497,990. Global Medical REIT has a 1 year low of $7.33 and a 1 year high of $10.46. 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 stock has a market cap of $589.67 million, a price-to-earnings ratio of -441.13, a PEG ratio of 1.43 and a beta of 1.24. The business’s fifty day moving average is $7.95 and its two-hundred day moving average is $8.75.

Global Medical REIT (NYSE:GMRE) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.01 by $0.21. Global Medical REIT had a net margin of 3.23% and a return on equity of 0.86%. The company had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.87 million. Analysts anticipate that Global Medical REIT will post 0.81 EPS for the current fiscal 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.