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

Global Medical REIT Inc. (NYSE:GMRE) declared a quarterly dividend on Friday, February 28th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 9.52%. The ex-dividend date of this dividend is Friday, March 21st.

Global Medical REIT has decreased its dividend payment 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. Equities 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 Price Performance

Shares of NYSE GMRE traded up $0.35 during midday trading on Friday, reaching $8.83. 1,300,098 shares of the company were exchanged, compared to its average volume of 497,984. The stock’s 50-day moving average price is $7.95 and its 200-day moving average price is $8.75. The stock has a market cap of $589.67 million, a P/E ratio of -441.13, a PEG ratio of 1.43 and a beta of 1.24. 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 has a one year low of $7.33 and a one year high of $10.46.

Global Medical REIT (NYSE:GMRE) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. Global Medical REIT had a return on equity of 0.86% and a net margin of 3.23%. The business had revenue of $35.16 million for the quarter, compared to analyst estimates of $34.87 million. On average, sell-side analysts anticipate that Global Medical REIT will post 0.81 earnings per share 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.