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

Global Medical REIT Inc. (NYSE:XRN) declared a monthly dividend on Tuesday, August 18th. Shareholders of record on Friday, November 20th will be given a dividend of 0.16 per share on Friday, December 18th. This represents a c) annualized dividend and a dividend yield of 5.3%. The ex-dividend date of this dividend is Friday, November 20th.

Global Medical REIT has decreased its dividend by an average of 0.0%annually over the last three years. Global Medical REIT has a payout ratio of 3,840.0% 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 $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

XRN stock opened at $36.27 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.37. The firm has a market cap of $480.23 million, a PE ratio of 9.75 and a beta of 1.09. The business has a 50 day moving average of $36.61 and a 200-day moving average of $35.84. Global Medical REIT has a 12-month low of $29.05 and a 12-month high of $39.93.

Global Medical REIT (NYSE:XRN) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $4.78 earnings per share 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. As a group, sell-side analysts expect that Global Medical REIT will post 2.89 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Zacks Research upgraded shares of Global Medical REIT to a “hold” rating in a research note on Wednesday, July 22nd. Raymond James Financial assumed coverage on shares of Global Medical REIT in a report on Wednesday, June 17th. They issued a “market perform” rating on the stock. BMO Capital Markets upped their price objective on Global Medical REIT from $39.00 to $40.00 and gave the company a “market perform” rating in a research note on Monday, July 13th. Compass Point reissued a “neutral” rating and set a $38.00 price objective (down from $50.00) on shares of Global Medical REIT in a report on Thursday, May 7th. Finally, Wall Street Zen downgraded Global Medical REIT from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Global Medical REIT currently has an average rating of “Hold” and an average price target of $40.25.

Global Medical REIT Company Profile

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.