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

Global Medical REIT Inc. (NYSE:XRN) declared a monthly dividend on Tuesday, August 18th. Investors of record on Tuesday, October 20th will be paid a dividend of 0.16 per share on Friday, November 13th. This represents a c) annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend is Tuesday, October 20th.

Global Medical REIT has decreased its dividend by an average of 0.0%per year over the last three years. Global Medical REIT has a dividend 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. 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 XRN opened at $36.27 on Wednesday. The company has a market capitalization of $480.23 million, a PE ratio of 9.75 and a beta of 1.09. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.59 and a quick ratio of 0.59. Global Medical REIT has a one year low of $29.05 and a one year high of $39.93. The company’s fifty day moving average price is $36.61 and its 200 day moving average price is $35.84.

Global Medical REIT (NYSE:XRN) last released its quarterly earnings results on Wednesday, August 5th. The company reported $4.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $3.95. The company had revenue of $39.75 million during the quarter. Global Medical REIT had a net margin of 36.82% and a return on equity of 13.31%. As a group, analysts expect that Global Medical REIT will post 2.89 earnings per share for the current year.

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.